Stock rating for Dynagas Partners (DLNG) and stock price target for 2021. Also, a look at recent financial data and key multiples for this bargain stock.
Dynagas Partners (DLNG) Company Overview & Stock Price Forecast
Stock Price Target: $5.13
Quick Points
- Price/Free-Cash-Flow: 2.27
- Price/Sales: 0.77
- Prices/Earnings: 2.35
- EV/EBITDA: 8.29
- ROIC: 4.82%
Earnings Yield
The current earnings yield for DLNG is 12.06%, in comparison to 2.84% for the S&P 500 and 1.33% for the 10-year treasury bond. The median earnings yield for the industry in which DLNG operates is 10.71%.
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Stock Price Target: $5.13
Recent Financial Results
- 100% fleet utilization for Q2 2021
- Estimated contracted revenue backlog of approximately $1.09 billion as of September 2021
- Q2 2021 net income of $9.1 million (compared to $6.4 million in Q2 2020, an increase of 42.2%)
- EBITDA of $23.6 million, as compared to $24.1 million Q2 2020 (decrease of $0.5 million, or 2.11%)
- Voyage revenues for Q2 2021 of $33.9 million
- Average daily hire rate $62,440 per day per vessel compared to approximately $62,200 Q2 2020 (vessels operated at 100% utilization in both quarters)
- Time charter agreement initiated with Equinor for the employment of carrier Arctic Aurora (vessel is expected to be delivered to Equinor in September 2021 in continuation of the current charter with the company – no lapse of time between its current and the new time charter)
Company Overview
Dynagas Partners operates a limited partnership in the seaborne transportation industry worldwide. The company owns and operates liquefied natural gas (LNG) carriers through multi-year charters. Dynagas has a current fleet of six LNG carriers, with carrying capacity of 914,000 cubic meters.
The company was incorporated in 2013 and is headquartered in Athens, Greece. The current CEO is Tony Lauritzen.