Dorian LPG (NYSE:LPG – Get Free Report) released its earnings results on Wednesday. The shipping company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.22 by $0.30, Briefing.com reports. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The company’s revenue for the quarter was up 123.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share.
Here are the key takeaways from Dorian LPG’s conference call:
- Dorian reported its highest-ever TCE revenue per available day at $75,926, while adjusted EBITDA reached $165.4 million, including a $30.1 million gain on the Cobra sale.
- VLGC market conditions remained strong as Middle East disruptions redirected LPG trade toward the U.S. Gulf, which posted record exports of nearly 20.8 million tons and increased ton-mile demand. Management said rates have remained healthy despite some Panama Canal-related cost pressure.
- The company’s balance sheet has strengthened following vessel sales and debt repayments, with cash approaching $600 million, debt-to-total capitalization of 29.3%, and net debt-to-total capitalization of 9.7%. Dorian also expects lower interest and principal-amortization costs after approximately $80.6 million of debt reductions.
- Dorian declared a $1-per-share dividend, its 20th dividend payment, while emphasizing that future capital allocation will balance shareholder returns, debt reduction, and conservative fleet renewal. The company has ordered one dual-fuel 90,000-cubic-meter VLGC for mid-2029 delivery and is evaluating additional renewal opportunities without excluding measured fleet expansion.
- Management noted that the VLGC order book is increasing and expressed concern about excess newbuilding activity, which could pressure future returns. Freight markets also corrected from record highs after the June ceasefire memorandum, although management believes a lasting peace would not necessarily be negative for the sector.
Dorian LPG Trading Up 0.2%
NYSE LPG traded up $0.09 during trading on Wednesday, reaching $43.60. 490,750 shares of the stock traded hands, compared to its average volume of 613,669. The company has a quick ratio of 2.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 9.58 and a beta of 0.65. The stock’s 50-day moving average price is $41.30 and its 200 day moving average price is $37.18. Dorian LPG has a fifty-two week low of $23.76 and a fifty-two week high of $48.12.
Dorian LPG Dividend Announcement
Insider Activity at Dorian LPG
In other news, insider Tim Truels Hansen sold 20,000 shares of Dorian LPG stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the transaction, the insider directly owned 157,842 shares in the company, valued at approximately $5,584,449.96. The trade was a 11.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ted Kalborg sold 15,373 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the sale, the director owned 66,348 shares in the company, valued at $2,989,640.88. This represents a 18.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 13.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in shares of Dorian LPG by 1,003.8% during the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,315 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Dorian LPG by 429.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock worth $40,000 after purchasing an additional 1,340 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Dorian LPG in the third quarter valued at about $41,000. Los Angeles Capital Management LLC purchased a new position in Dorian LPG during the fourth quarter worth about $49,000. Finally, Aster Capital Management DIFC Ltd grew its position in Dorian LPG by 47.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,017 shares of the shipping company’s stock worth $49,000 after purchasing an additional 652 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on LPG shares. Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Freedom Capital lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Jefferies Financial Group lifted their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Finally, Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.
Read Our Latest Report on Dorian LPG
Dorian LPG Company Profile
Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.
Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.
The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.
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