Sprague Resources LP (NYSE:SRLP) announced its quarterly earnings data on Monday. The oil and gas company reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $1.55. The business had revenue of $917.81 million during the quarter, compared to analyst estimates of $791.49 million. Sprague Resources had a net margin of 1.71% and a return on equity of 24.98%.
Sprague Resources (NYSE:SRLP) traded up 0.19% on Friday, hitting $26.80. The stock had a trading volume of 16,518 shares. The company’s 50 day moving average is $26.52 and its 200 day moving average is $26.35. Sprague Resources has a 12-month low of $22.50 and a 12-month high of $30.35. The firm has a market cap of $573.81 million, a PE ratio of 68.89 and a beta of 1.45.
The business also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were issued a dividend of $0.5925 per share. This is an increase from Sprague Resources’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $2.37 annualized dividend and a yield of 8.84%. Sprague Resources’s dividend payout ratio is 129.78%.
In other news, Director Ben J. Hennelly sold 2,456 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $26.94, for a total transaction of $66,164.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several large investors have recently made changes to their positions in SRLP. Renaissance Technologies LLC increased its stake in shares of Sprague Resources by 11.3% in the first quarter. Renaissance Technologies LLC now owns 48,927 shares of the oil and gas company’s stock valued at $1,326,000 after buying an additional 4,963 shares during the period. UBS Group AG increased its stake in shares of Sprague Resources by 79.3% in the first quarter. UBS Group AG now owns 19,273 shares of the oil and gas company’s stock valued at $522,000 after buying an additional 8,523 shares during the period. Advantus Capital Management Inc increased its stake in shares of Sprague Resources by 46.1% in the first quarter. Advantus Capital Management Inc now owns 39,301 shares of the oil and gas company’s stock valued at $1,065,000 after buying an additional 12,400 shares during the period. Van ECK Associates Corp bought a new position in Sprague Resources during the first quarter worth $2,957,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in Sprague Resources during the first quarter worth $245,000. Institutional investors own 52.61% of the company’s stock.
SRLP has been the subject of several research analyst reports. Janney Montgomery Scott upgraded Sprague Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $31.00 in a research report on Monday, March 20th. FBR & Co set a $35.00 price target on Sprague Resources and gave the stock a “buy” rating in a report on Thursday, March 16th. Finally, Zacks Investment Research raised Sprague Resources from a “strong sell” rating to a “hold” rating and set a $29.00 price target for the company in a report on Tuesday, May 9th.
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