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Dynagas beats 4Q profit forecasts

MONACO (AP) _ Dynagas LNG Partners LP (DLNG) on Monday reported fourth-quarter earnings of $15.5 million.

The company said it had profit of 39 cents per share. Earnings, adjusted for non-recurring costs, were 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The gas shipping company posted revenue of $41.4 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $41.5 million.

For the year, the company reported profit of $66.9 million, or $1.69 per share. Revenue was reported as $169.9 million.

Dynagas shares have climbed 2 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $16.31, an increase of 84 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLNG at https://www.zacks.com/ap/DLNG

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Keywords: Dynagas LNG, Earnings Report