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Sunday, July 3, 2022

Dynagas LNG Partners LP (DLNG) stock soared in the pre-market. Here’s the reason

The stock of Dynagas LNG Partners LP (DLNG) closed the recent trading session at $3.49, gaining 15.95% from the previous trading session. DLNG stock further skyrocketed in the pre-market and gained 14.61% to $4.00. The stock price kept moving in the range of $3.04 and $4.18. The firm declared the results for the last quarter and financial year 2021. DLNG also provided updates regarding Russian embargos. Dynagas LNG also filed form 6-K with the SEC on 18 March 2022.

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Dynagas LNG Partners LP (DLNG) is an expert limited association that possesses and works with LNG transporters employed on long-term contracts. The organization’s present armada comprises six LNG transporters. DLNG has a market cap of $182.88 million and has its headquarters in Monaco.

DLNG Financials

On 17 March 2022, DLNG declared the results for the last quarter and fiscal year 2021. The company had revenue of $35.6 million in Q4 of FY21 versus $34.4 million in the same period of last year. The revenue in Q4 of FY21 expanded by 3.4%. Moreover, the revenue in FY21 was $137.7 million as compared to $137.1 million in FY20.

Moreover, the total income for DLNG in Q4 of FY21 was reported to be $16.9 million versus $10.6 million in Q4 of FY20. This marks a growth of 59.4%. Moreover, the total income in FY21 expanded by 56.4% to $53.2 million against $34.0 million in the previous year.

Besides, the EPS also increased by 72.7% to $0.38 in Q4 of the fiscal year 2021 as compared to $0.22 in Q4 of the fiscal year 2020. Further, the EPS in FY21 also grew by 80.9% to $1.14 versus $0.63 in FY20.

Russian Embargo Updates

Because of the continuous Russian struggles with Ukraine, the U.S., E.U., Canada, and other Western nations and associations have reported and instituted various embargos against Russia to force serious financial strain on the Russian economy and government. The firm provided updates regarding the embargos. As per the company, the association is consistent with all pertinent U.S. and E.U. embargos. The current U.S. and E.U. embargos have excluded specific LNG transporting activities and don’t physically influence the business, tasks, or financial standing of the organization.

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