Desjardins Lowers Superior Plus (TSE:SPB) Price Target to C$9.75

Superior Plus (TSE:SPB) had its price objective lowered by Desjardins from C$10.50 to C$9.75 in a report published on Wednesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on the stock. TD Securities decreased their price target on shares of Superior Plus from C$8.50 to C$8.00 and set a “hold” rating for the company in a research report on Wednesday. BMO Capital Markets decreased their price objective on shares of Superior Plus from C$10.00 to C$8.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Raymond James Financial decreased their price objective on shares of Superior Plus from C$11.50 to C$10.50 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$9.68.

Superior Plus Stock Performance

SPB stock opened at C$6.64 on Wednesday. The firm has a market cap of C$1.12 billion, a price-to-earnings ratio of 24.41 and a beta of 0.76. The firm has a 50-day simple moving average of C$7.63 and a two-hundred day simple moving average of C$7.04. Superior Plus has a one year low of C$5.15 and a one year high of C$8.34. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

Superior Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 2.7%. Superior Plus’s dividend payout ratio (DPR) is presently 264.73%.

About Superior Plus

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline.