Superior Plus (TSE:SPB) Price Target Raised to C$8.00 at TD

Superior Plus (TSE:SPB) had its price objective hoisted by TD from C$7.50 to C$8.00 in a research note released on Friday,BayStreet.CA reports. TD currently has a hold rating on the stock.

A number of other brokerages have also recently commented on SPB. Scotiabank cut Superior Plus from an “outperform” rating to a “hold” rating and dropped their target price for the stock from C$8.50 to C$6.50 in a report on Monday, February 23rd. Stifel Nicolaus dropped their target price on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating for the company in a report on Monday, February 23rd. ATB Cormark Capital Markets lifted their target price on Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets cut Superior Plus from an “outperform” rating to a “hold” rating and dropped their target price for the stock from C$9.00 to C$8.00 in a report on Friday, February 20th. Finally, Raymond James Financial cut Superior Plus from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$9.75 to C$8.50 in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Superior Plus has a consensus rating of “Hold” and an average price target of C$8.11.

Superior Plus Stock Performance

TSE SPB opened at C$7.61 on Friday. The stock has a market capitalization of C$1.63 billion, a PE ratio of 36.24 and a beta of 0.29. The business has a 50 day simple moving average of C$6.92 and a two-hundred day simple moving average of C$7.15. The company has a debt-to-equity ratio of 193.28, a current ratio of 1.22 and a quick ratio of 0.46. Superior Plus has a 1-year low of C$6.06 and a 1-year high of C$8.34.

Superior Plus (TSE:SPB) last announced its earnings results on Wednesday, May 13th. The company reported C$0.94 EPS for the quarter. The firm had revenue of C$1.25 billion during the quarter. Superior Plus had a return on equity of 4.59% and a net margin of 1.69%.

Superior Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Superior Plus’s dividend payout ratio (DPR) is currently 62.09%.

Insider Activity

In other Superior Plus news, insider Dale Alan Winger purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of C$7.65 per share, with a total value of C$76,500.00. Following the purchase, the insider owned 41,000 shares of the company’s stock, valued at approximately C$313,650. The trade was a 32.26% increase in their ownership of the stock. Corporate insiders own 0.54% of the company’s stock.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.