Superior Plus (TSE:SPB) Sets New 1-Year High After Analyst Upgrade

Superior Plus Corp. (TSE:SPB)’s stock price hit a new 52-week high on Tuesday after National Bank Financial raised their price target on the stock from C$7.50 to C$8.50. National Bank Financial currently has a sector perform rating on the stock. Superior Plus traded as high as C$8.78 and last traded at C$8.30, with a volume of 1514421 shares changing hands. The stock had previously closed at C$8.39.

Other equities analysts have also issued reports about the company. ATB Cormark Capital Markets boosted their target price on Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. TD boosted their target price on Superior Plus from C$7.50 to C$8.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Desjardins boosted their target price on Superior Plus from C$7.00 to C$7.75 and gave the stock a “hold” rating in a research report on Friday, May 15th. TD Securities lowered Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Stifel Nicolaus boosted their target price on Superior Plus from C$9.00 to C$10.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Superior Plus currently has an average rating of “Hold” and an average price target of C$8.48.

Insider Activity

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

Superior Plus Price Performance

The company has a debt-to-equity ratio of 193.28, a quick ratio of 0.46 and a current ratio of 1.22. The company has a 50-day moving average of C$7.22 and a 200-day moving average of C$7.14. The firm has a market capitalization of C$1.78 billion, a price-to-earnings ratio of 39.52 and a beta of 0.29.

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

Superior Plus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were paid a $0.045 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.18 annualized dividend and a yield of 2.2%. Superior Plus’s payout ratio is presently 62.09%.

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.