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DYNAGAS LNG PARNERS LP - DLNG STOCK NEWS

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Dynagas LNG Partners LP (NYSE: DLNG) is a global leader in the seaborne transportation of liquefied natural gas (LNG). Established in 2013 and headquartered in Athens, Greece, the company operates through its subsidiaries and boasts a fleet of six LNG carriers as of April 16, 2020.

Dynagas LNG Partners LP specializes in owning and managing high-specification, versatile LNG carriers that are engaged in multi-year contracts with international energy firms. These long-term charters, defined as contracts lasting two years or more, ensure stable cash flows and high utilization rates. The company's fleet is designed for flexible trading, capable of conventional trade and operations in extreme conditions due to its Ice Class 1A FS notation and winterization, which allows for navigation in subzero and ice-bound environments.

Recent Achievements:

  • Successful operation of a state-of-the-art fleet optimized for various trading conditions.
  • Maintaining strong relationships with prominent international energy companies through long-term contracts.
  • Providing reliable and efficient LNG transportation solutions.

Current Projects:

  • Continuing to enhance fleet capabilities for both conventional and extreme weather operations.
  • Expanding contractual agreements with global energy firms to ensure long-term revenue stability.

Financial Condition:

The company is committed to maintaining a robust financial position, underpinned by stable cash flows from its long-term charters. The financial results for the fourth quarter ended December 31, 2023, will be released on March 28, 2024.

For more information and updates, the company's management team regularly hosts conference calls and webcasts, with the next session scheduled for September 15, 2023, at 10:00 a.m. Eastern Time.

Contact Investor Relations at Capital Link, Inc.:

Nicolas Bornozis/Markella Kara
230 Park Avenue, Suite 1540
New York, NY 10169
Tel: (212) 661-7566
Email: dynagas@capitallink.com

Rhea-AI Summary
Dynagas LNG Partners LP (DLNG) reported its Q1 2023 results, with net income of $9.6 million and earnings per common unit of $0.18. The Partnership achieved 100% fleet utilization and declared cash distributions on its preferred units. They also made a voluntary loan prepayment of $31.3 million. The estimated contracted revenue backlog is $0.96 billion with an average remaining contract term of 6.1 years.
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Dynagas LNG Partners LP (NYSE: DLNG) announced the filing of its Annual Report on Form 20-F with the U.S. SEC on April 21, 2023, covering the year ended December 31, 2022. The report details the Partnership's operations, financial condition, and performance. Currently, Dynagas owns six LNG carriers with a total carrying capacity of approximately 914,000 cubic meters. Unitholders can access the report through the company’s website or request a hard copy free of charge from Capital Link, Inc. The company emphasizes future growth potential while cautioning about inherent risks associated with market conditions, operational expenses, and regulatory factors that could impact performance.

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Dynagas LNG Partners LP (NYSE: DLNG) has announced a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units for the period from February 12, 2023, to May 11, 2023. This distribution will be payable on May 12, 2023, to all unit holders of record as of May 5, 2023.

This marks the 31st sequential cash distribution since the units began trading on the NYSE. Currently, there are 3,000,000 Series A Preferred Units outstanding. The Partnership operates a fleet of six LNG carriers, with a total capacity of approximately 914,000 cubic meters. Distributions on the Series A Preferred Units are made quarterly.

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Dynagas LNG Partners LP (NYSE: DLNG) reported strong financial results for the year and fourth quarter ending December 31, 2022. Key highlights include a net income of $54 million for the year, or $1.15 per unit, and $11.6 million for Q4, or $0.24 per unit. The Partnership achieved 100% fleet utilization for 11 consecutive quarters and announced a new three-year time charter agreement with Equinor for the Arctic Aurora. Total contracted revenue backlog is estimated at $1 billion, with a reduction in net leverage from 6.6x to 4.7x since 2019, alongside a 35% increase in book equity. The Partnership remains focused on debt reduction amidst stable long-term cash flow visibility.

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Dynagas LNG Partners LP (NYSE: DLNG) will disclose its financial results for Q4 2022 on March 17, 2023, before market opening in New York. A conference call with management will follow at 10:00 a.m. ET to discuss these results. Interested participants can dial in or register online for faster access. The Partnership operates a fleet of six LNG carriers with a combined capacity of approximately 914,000 cubic meters. For more details, visit their website to access the live webcast and related presentation slides.

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Dynagas LNG Partners LP (NYSE: DLNG) has declared a cash distribution of $0.546875 per unit on its Series B Preferred Units for the period from November 22, 2022 to February 21, 2023. This payment is scheduled for February 22, 2023, to preferred unit holders recorded by February 15, 2023. This marks the seventeenth consecutive cash distribution for these units, which will be paid quarterly in arrears every February, May, August, and November. The partnership has 2,200,000 Series B Preferred Units outstanding, reflecting its ongoing commitment to unit holders.

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Dynagas LNG Partners LP (NYSE: DLNG) has announced a cash distribution of $0.5625 per unit on its Series A Preferred Units, covering the period from November 12, 2022 to February 11, 2023. This distribution is payable on February 13, 2023, to holders of record as of February 6, 2023. This marks the 30th consecutive cash distribution since these units began trading. As of the date of the press release, there are 3,000,000 Series A Preferred Units outstanding. The Partnership operates liquefied natural gas carriers under multi-year charters, with a fleet capacity of approximately 914,000 cubic meters.

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FAQ

What is the current stock price of DYNAGAS LNG PARNERS LP (DLNG)?

The current stock price of DYNAGAS LNG PARNERS LP (DLNG) is $5.3 as of January 22, 2025.

What is the market cap of DYNAGAS LNG PARNERS LP (DLNG)?

The market cap of DYNAGAS LNG PARNERS LP (DLNG) is approximately 193.0M.

What does Dynagas LNG Partners LP do?

Dynagas LNG Partners LP specializes in the seaborne transportation of liquefied natural gas (LNG) with a fleet of six carriers.

Where is Dynagas LNG Partners LP headquartered?

The company is headquartered in Athens, Greece.

When was Dynagas LNG Partners LP founded?

Dynagas LNG Partners LP was founded in 2013.

How many LNG carriers does the company operate?

As of April 16, 2020, the company operates a fleet of six LNG carriers.

What types of contracts do Dynagas LNG Partners LP's carriers operate under?

The company's LNG carriers are employed on multi-year contracts, defined as two years or more, with international energy companies.

What makes the company’s fleet versatile?

The fleet is designed for trading flexibility, with capabilities for conventional trade and operations in subzero and ice-bound conditions.

When will the next financial results be released?

The financial results for the fourth quarter ended December 31, 2023, will be released on March 28, 2024.

How can investors join the upcoming conference call?

Investors can join the conference call on September 15, 2023, at 10:00 a.m. Eastern Time, with details available on the company's Investor Relations page.

Who are the main points of contact for Investor Relations?

Nicolas Bornozis and Markella Kara at Capital Link, Inc. are the main contacts for Investor Relations.

What is the Ice Class 1A FS notation?

The Ice Class 1A FS notation indicates that part of the fleet is enhanced for safe navigation and operation in subzero and ice-bound conditions.
DYNAGAS LNG PARNERS LP

NYSE:DLNG

DLNG Rankings

DLNG Stock Data

193.03M
17.64M
52.06%
24.35%
0.04%
Oil & Gas Midstream
Energy
Link
United States of America
Athens