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Dynagas LNG Partners LP (DLNG)
NYSE:DLNG
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Dynagas LNG Partners
(NYSE:DLNG)
76Outperform
Dynagas LNG Partners (DLNG) vs. S&P 500 (SPY)
Market Cap
$141.61M
Dividend Yield2.54%
Average Volume (3M)80.42K
Price to Earnings (P/E)2.7
Beta (1Y)0.28
Revenue Growth-4.35%
EPS Growth29.57%
CountryUS
EmployeesN/A
SectorEnergy
Sector Strength72
IndustryFossil Fuels
Share Statistics
EPS (TTM)1.40
Shares Outstanding36,747,128
10 Day Avg. Volume70,349
30 Day Avg. Volume80,419
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)N/A
Price to Sales (P/S)0.88
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.00Price Target Upside29.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Dynagas LNG Partners Business Overview & Revenue Model
Company DescriptionDynagas LNG Partners LP is a growth-oriented limited partnership focused on owning and operating liquefied natural gas (LNG) carriers. The company is engaged in the seaborne transportation of LNG and operates in the maritime sector. Dynagas LNG Partners provides reliable and efficient LNG shipping services through its fleet of modern and technologically advanced vessels.
How the Company Makes MoneyDynagas LNG Partners generates revenue primarily through long-term charters of its LNG carriers to major international energy companies. These charters typically provide fixed daily rates for the use of their vessels, creating a stable and predictable income stream. The company's earnings are influenced by the number of vessels in operation, the duration of the charters, and the negotiated charter rates. Additionally, Dynagas LNG Partners may benefit from partnerships with energy companies that require LNG transportation services, enhancing its market position and revenue potential. The company focuses on maintaining high vessel utilization rates and securing contracts with creditworthy counterparties to optimize its financial performance.
Dynagas LNG Partners Financial Statement Overview
Summary
Dynagas LNG Partners shows strong profitability with improving margins and cash flow generation, but significant financial risks due to high leverage and zero stockholders' equity.Income Statement
Dynagas LNG Partners shows a solid improvement in profitability with increasing gross and net profit margins over the TTM. The gross profit margin for TTM is approximately 55.68%, driven by efficient cost management. Net profit margin improved to about 31.62% in TTM, reflecting enhanced operational efficiency. However, a slight decline in revenue from the previous year suggests a need for attention to revenue growth strategies.75
Positive
Balance Sheet
The balance sheet reflects high leverage with a zero stockholders' equity in TTM, indicating potential solvency concerns. The debt-to-equity ratio is not calculable due to the absence of equity, highlighting financial instability and risk. The company must address its capital structure to ensure long-term sustainability.45
Neutral
Cash Flow
The cash flow statement shows robust operating cash flow relative to net income, with an operating cash flow to net income ratio of approximately 1.65 in TTM. Free cash flow also improved, with a notable growth rate of 27.04% compared to the previous period, indicating efficient cash management. However, negative financing cash flow in TTM suggests reliance on debt repayment or reduced financing activities.60
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 151.69M | 160.48M | 131.66M | 137.75M | 137.16M | 130.90M | Gross Profit |
| 84.46M | 73.13M | 54.33M | 73.74M | 73.54M | 69.16M | EBIT |
| 75.67M | 64.71M | 9.61M | 64.61M | 64.26M | 59.92M | EBITDA |
| 109.56M | 107.24M | 113.94M | 106.89M | 96.06M | 85.57M | Net Income Common Stockholders |
| 47.97M | 35.87M | 42.41M | 41.66M | 11.21M | -52.60M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 109.92M | 73.75M | 71.14M | 47.57M | 24.98M | 16.21M | Total Assets |
| 1.06B | 908.91M | 947.71M | 965.48M | 965.84M | 989.19M | Total Debt |
| 712.82M | 419.58M | 543.28M | 561.97M | 607.68M | 653.15M | Net Debt |
| 602.90M | 345.83M | 494.69M | 514.95M | 582.70M | 636.95M | Total Liabilities |
| 736.95M | 460.67M | 523.78M | 584.00M | 629.34M | 675.48M | Stockholders Equity |
| 326.50M | 448.24M | 423.93M | 381.48M | 336.50M | 313.74M |
| Cash Flow | Free Cash Flow | ||||
| 76.42M | 60.15M | 53.69M | 79.59M | 68.60M | 43.18M | Operating Cash Flow |
| 79.25M | 64.39M | 57.32M | 79.59M | 68.60M | 43.18M | Investing Cash Flow |
| -2.80M | -4.24M | -3.63M | 0.00 | 0.00 | 0.00 | Financing Cash Flow |
| -89.20M | -66.27M | -70.84M | -57.55M | -59.83M | -86.89M |
Dynagas LNG Partners Technical Analysis
Negative
3.85
Price Trends
4.61
Negative
4.41
Negative
4.08
Negative
Market Momentum
-0.20
Negative
34.30
Neutral
32.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DLNG, the sentiment is Negative. The current price of 3.85 is below the 20-day moving average (MA) of 4.00, below the 50-day MA of 4.61, and below the 200-day MA of 4.08, indicating a bearish trend. The MACD of -0.20 indicates Negative momentum. The RSI at 34.30 is Neutral, neither overbought nor oversold. The STOCH value of 32.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DLNG.
Dynagas LNG Partners Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $141.61M | 2.75 | 11.06% | 2.54% | -4.35% | 29.57% | |
75 Outperform | $871.07M | 5.19 | 15.72% | ― | -24.25% | -48.08% | |
65 Neutral | $1.16B | 10.03 | 14.23% | 13.74% | -3.95% | -2.25% | |
57 Neutral | $3.35B | 67.29 | 2.44% | 3.13% | -1.35% | -75.72% | |
57 Neutral | $8.36B | 5.47 | -5.51% | 7.41% | 0.15% | -68.69% | |
42 Neutral | $189.04M | ― | -2.40% | 1.91% | 3.83% | 37.14% |
* Energy Sector Average
Performance Comparison
DLNG
Dynagas LNG Partners
3.85
1.09
39.49%
GLNG
Golar LNG
34.04
11.12
48.52%
LPG
Dorian LPG
20.90
-12.88
-38.13%
KNOP
KNOT Offshore Partners
5.46
0.28
5.41%
FLNG
FLEX LNG
21.73
-1.09
-4.78%
Dynagas LNG Partners Earnings Call Summary
Earnings Call Date: Mar 6, 2025 | % Change Since: -0.77% | Next Earnings Date: Jun 25, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements in debt reduction and financial flexibility, with a strong charter backlog ensuring stability. However, some challenges were noted in the form of decreased operating income and potential increased costs due to interest rate swap maturity.Highlights
Fleet Operation and Charter Backlog
All 6 LNG carriers are operating on long-term charters with international gas companies. The contracted backlog stands at approximately $1.04 billion, with an average remaining charter period of 6.4 years.
Strategic Deleveraging and Financial Flexibility
Debt levels have been significantly reduced from $675 million in September 2019 to $345 million in June 2024. The net debt-to-EBITDA ratio improved from 6.6x to 2.9x. 33% of the fleet is now debt-free.
Successful Lease Financing Agreement
Concluded a $344.9 million lease financing agreement with China Development Bank Financial Leasing for 4 LNG carriers, improving financing structure and flexibility.
Lowlights
Decrease in Operating Income
Operating income for the second quarter was $18.8 million, a 2.6% decrease from the $19.3 million during the prior quarter, attributed to revenue variation and increased expenses.
Interest Rate Swap Maturity and Increased Debt Service Costs
Realized and unrealized gains from interest rate swaps decreased, and the swap matures on September 18, 2024. Debt service per day is expected to increase by about $5,200 per day in Q4 2024.
Company Guidance
During the Q2 2024 earnings call for Dynagas LNG Partners, the company highlighted several key financial metrics and strategic moves. The net income for the quarter was reported at $10.7 million, with adjusted net income at $12.4 million, translating to an adjusted earnings per common unit of $0.25. The adjusted EBITDA for the period reached $28.6 million. Notably, the company completed a $344.9 million lease financing agreement with China Development Bank Financial Leasing, enabling them to repay a previous credit facility of $408.6 million ahead of its September 2024 maturity. The partnership has reduced its debt levels, with two of their LNG carriers now debt-free, positioning them for future growth. Revenue for the quarter was $37.6 million with an average time charter equivalent (TCE) of $67,300 per day. The company maintained a strong cash position, ending the quarter with $35.6 million in cash. Their total debt stands at $345 million, with a leverage ratio of 2.9x, a significant reduction from previous years. The fleet's contracted backlog is approximately $1.04 billion, with a robust charter profile extending up to 2034, ensuring stable income.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.