Dnb Carnegie upgraded shares of BW LPG (NYSE:BWLP – Free Report) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.
Other analysts have also recently issued reports about the company. Wall Street Zen raised BW LPG from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Weiss Ratings reissued a “hold (c)” rating on shares of BW LPG in a report on Wednesday, January 21st. Finally, Kepler Capital Markets raised BW LPG from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, BW LPG has a consensus rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on BW LPG
BW LPG Stock Performance
BW LPG (NYSE:BWLP – Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. The business had revenue of $732.40 million during the quarter, compared to analysts’ expectations of $217.18 million. BW LPG had a return on equity of 12.61% and a net margin of 6.76%.
BW LPG Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 13th were paid a dividend of $0.5652 per share. This is a boost from BW LPG’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, March 13th. This represents a $2.26 dividend on an annualized basis and a yield of 10.7%. BW LPG’s dividend payout ratio is 142.50%.
Hedge Funds Weigh In On BW LPG
A number of hedge funds have recently added to or reduced their stakes in BWLP. Advisory Services Network LLC bought a new position in BW LPG during the 3rd quarter worth $36,000. Global Retirement Partners LLC bought a new position in BW LPG during the 4th quarter worth $43,000. Raymond James Financial Inc. bought a new position in BW LPG during the 2nd quarter worth $47,000. BNP Paribas Financial Markets bought a new position in BW LPG during the 3rd quarter worth $62,000. Finally, Optiver Holding B.V. increased its stake in BW LPG by 99.3% during the 3rd quarter. Optiver Holding B.V. now owns 4,541 shares of the company’s stock worth $65,000 after acquiring an additional 2,263 shares during the period.
About BW LPG
BW LPG (NYSE: BWLP) is a pure‐play owner and operator of liquefied petroleum gas (LPG) carriers. The company’s core business centers on the maritime transportation of LPG, predominantly propane and butane, under both time‐ and voyage‐charter arrangements. Its fleet comprises pressurized and semi‐refrigerated vessels designed to meet the specific requirements of LPG producers, traders and end‐users around the world.
Headquartered in Singapore, BW LPG serves a global customer base, with commercial offices in key energy hubs including Houston, London, Dubai and Tokyo.
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