Franklin Resources Inc. Lowers Stake in Dorian LPG Ltd. (NYSE:LPG)

Franklin Resources Inc. cut its stake in Dorian LPG Ltd. (NYSE:LPG) by 4.5% during the third quarter, HoldingsChannel reports. The fund owned 22,048 shares of the shipping company’s stock after selling 1,027 shares during the quarter. Franklin Resources Inc.’s holdings in Dorian LPG were worth $763,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LPG. Charles Schwab Investment Management Inc. boosted its stake in Dorian LPG by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 471,768 shares of the shipping company’s stock valued at $16,238,000 after acquiring an additional 34,344 shares in the last quarter. Cynosure Group LLC boosted its position in shares of Dorian LPG by 248.0% in the 3rd quarter. Cynosure Group LLC now owns 31,655 shares of the shipping company’s stock worth $1,090,000 after purchasing an additional 22,560 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Dorian LPG by 52.2% in the 3rd quarter. Empowered Funds LLC now owns 290,445 shares of the shipping company’s stock worth $9,997,000 after purchasing an additional 99,650 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Dorian LPG during the 3rd quarter worth $2,238,000. Finally, Pacer Advisors Inc. increased its position in Dorian LPG by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,416,004 shares of the shipping company’s stock valued at $117,579,000 after buying an additional 352,453 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a $42.00 price target on shares of Dorian LPG in a research note on Thursday, October 31st.

Dorian LPG Trading Down 0.3 %

NYSE LPG opened at $23.91 on Monday. Dorian LPG Ltd. has a 12-month low of $22.46 and a 12-month high of $51.66. The company has a fifty day simple moving average of $26.07 and a two-hundred day simple moving average of $33.82. The company has a current ratio of 4.22, a quick ratio of 4.20 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.02 billion, a P/E ratio of 4.05 and a beta of 0.93.

Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The firm had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $82.40 million. During the same quarter last year, the business earned $1.85 EPS. The business’s revenue was down 43.1% on a year-over-year basis. On average, analysts forecast that Dorian LPG Ltd. will post 3.45 earnings per share for the current year.

Dorian LPG Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, November 25th. Investors of record on Tuesday, November 5th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, November 5th. Dorian LPG’s dividend payout ratio (DPR) is 16.95%.

Dorian LPG Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.