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DLNG

Dynagas LNG Partners LP

DLNG

Dynagas LNG Partners LP • NYSE
$3.60 ▼ -3.23% (-0.12)
Market Cap $131.51 M
52w High $5.65
52w Low $3.18
Dividend Yield 0.25%
P/E 2.79
Volume 87.42K
Outstanding Shares 36.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $38.891M ▲ $2.114M ▼ $18.655M ▲ 47.967% ▲ $0.51 ▲ $26.866M ▼
Q2-2025 $38.613M ▼ $2.147M ▼ $13.709M ▲ 35.504% ▲ $0.38 ▲ $27.732M ▲
Q1-2025 $39.107M ▼ $2.185M ▲ $13.57M ▼ 34.7% ▲ $0.37 ▼ $26.342M ▼
Q4-2024 $41.664M ▲ $2.123M ▼ $14.079M ▼ 33.792% ▼ $0.38 ▼ $31.718M ▲
Q3-2024 $39.069M $2.224M $15.054M 38.532% $0.41 $27.918M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $34.728M ▼ $785.697M ▼ $324.137M ▼ $461.391M ▲
Q2-2025 $77.856M ▲ $839.269M ▲ $393.411M ▲ $445.858M ▼
Q1-2025 $69.976M ▲ $837.002M ▼ $343.843M ▼ $493.159M ▲
Q4-2024 $68.156M ▲ $847.153M ▲ $362.352M ▼ $484.801M ▲
Q3-2024 $52.021M $840.706M $364.704M $476.002M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $18.655M ▲ $28.018M ▲ $0 $-73.058M ▼ $-43.128M ▼ $28.018M ▲
Q2-2025 $13.709M ▲ $24.31M ▲ $0 $-16.43M ▼ $7.88M ▲ $24.31M ▲
Q1-2025 $13.57M ▼ $18.074M ▼ $0 $-16.254M ▲ $1.82M ▼ $18.074M ▼
Q4-2024 $14.079M ▼ $32.455M ▲ $0 $-16.32M ▼ $16.135M ▼ $32.455M ▲
Q3-2024 $15.054M $25.592M $0 $-9.136M $16.456M $25.592M

Five-Year Company Overview

Income Statement

Income Statement Dynagas shows a relatively steady and predictable income profile. Revenue has been broadly flat over the past several years, which is typical for a small, fully contracted shipping partnership rather than a fast‑growing company. Profitability has inched up as operating margins improved, helped by tight cost control and good vessel utilization. Net income has generally trended better than a few years ago, though with some year‑to‑year swings. Overall, the business looks more like a stable cash‑generating utility tied to long‑term charters than a growth story, with modest but solid earnings rather than rapid expansion.

Balance Sheet

Balance Sheet The balance sheet has quietly improved. Total assets have edged down slightly as the fleet ages, but the key trend is a clear reduction in debt and a gradual build‑up in equity. Leverage has come down meaningfully compared with several years ago, which lowers financial risk and interest burden. Cash levels are steady and reasonable for a company of this size. The main structural risk is concentration in a small number of specialized ships, but from a financing standpoint, the partnership looks healthier and more resilient than earlier in the decade.

Cash Flow

Cash Flow Cash generation is a strong point. Operating cash flow has been consistently positive and has slightly improved in the most recent year. Because the partnership has had very low capital spending, almost all operating cash turns into free cash flow. That supports debt reduction and potential distributions, but it also signals that the company is not currently investing heavily in fleet growth or renewal. The model is therefore more “harvest and de‑risk” than “invest for rapid expansion,” which is attractive for stability but could limit long‑term growth if not paired with a future renewal plan.

Competitive Edge

Competitive Edge Dynagas occupies a narrow but defensible niche in the LNG shipping market. Its fleet is heavily focused on ice‑class, winterized LNG carriers able to operate in harsh, icy conditions that many competitors cannot handle. This specialization, combined with long‑term, fixed‑rate contracts with major energy companies, gives the partnership reliable vessel employment and reduces exposure to spot‑market volatility. The flip side is dependence on a small fleet and a concentrated customer base, so individual contract renewals and technical performance matter a great deal. Within its niche, however, Dynagas holds a credible and differentiated position.

Innovation and R&D

Innovation and R&D The company is not a heavy spender on cutting‑edge research, but it has been smart in how it uses proven technologies. Its main “innovation” is the strategic choice to build and operate ice‑class, fully winterized LNG carriers and to maintain strong technical expertise in that environment. Looking ahead, the focus is likely to be on incremental improvements: fuel efficiency, emissions reduction, and compliance with environmental rules, rather than radical new ship designs. Fleet renewal decisions and any moves into cleaner or more efficient propulsion technologies will be key signals of how actively Dynagas plans to innovate versus simply operate its existing assets.

Summary

Dynagas LNG Partners looks like a specialized, cash‑generating partnership built around a small fleet of niche LNG carriers on long‑term contracts. Financially, it has moved toward lower debt, steadier profits, and strong free cash flow, but without much visible growth investment. Its competitive strength lies in ice‑class capability and long‑dated charters with blue‑chip counterparties, which support stability but come with concentration risk and dependence on successful contract rollovers. The main strategic questions going forward are how and when it will renew or expand its fleet, how it will respond to tightening environmental standards, and whether it can translate its niche expertise into continued long‑term charter coverage as global LNG trade patterns evolve.

NEWS

November 26, 2025 · 4:05 PM UTC

Dynagas LNG Partners LP Announces Results of 2025 Annual Meeting of Limited Partners

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November 20, 2025 · 8:56 AM UTC

Dynagas LNG Partners LP Reports Results for the Three and Nine Months Ended September 30, 2025

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November 12, 2025 · 4:05 PM UTC

Dynagas LNG Partners LP Announces Date for the Release Of the Third Quarter and Nine Month 2025 Results

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October 30, 2025 · 4:05 PM UTC

Dynagas LNG Partners LP Announces Cash Distribution for the Quarter Ended September 30, 2025 of $0.050 Per Common Unit

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October 29, 2025 · 4:55 PM UTC

Dynagas LNG Partners LP Announces the Date of Its 2025 Annual Meeting of Limited Partners

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