Superior Plus (TSE:SPB) Shares Up 5.8% – What’s Next?

Superior Plus Corp. (TSE:SPB)’s stock price shot up 5.8% during mid-day trading on Thursday . The company traded as high as C$7.85 and last traded at C$7.84. 677,013 shares traded hands during trading, a decline of 33% from the average session volume of 1,012,365 shares. The stock had previously closed at C$7.41.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPB shares. Stifel Nicolaus cut their target price on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Desjardins cut Superior Plus from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$8.75 to C$7.00 in a research note on Monday, February 23rd. TD Securities lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. ATB Cormark Capital Markets raised their price objective on shares of Superior Plus from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, BMO Capital Markets downgraded Superior Plus from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$9.00 to C$8.00 in a research note on Friday, February 20th. 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, the stock currently has an average rating of “Hold” and a consensus target price of C$7.82.

Superior Plus Stock Performance

The company has a market capitalization of C$1.67 billion, a price-to-earnings ratio of 31.16 and a beta of 0.29. The firm has a 50-day simple moving average of C$6.88 and a two-hundred day simple moving average of C$7.15. The company has a current ratio of 0.95, a quick ratio of 0.46 and a debt-to-equity ratio of 244.09.

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. The firm had revenue of C$1.25 billion during the quarter. Superior Plus had a net margin of 2.49% and a return on equity of 6.95%.

Superior Plus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 2.3%. Superior Plus’s dividend payout ratio (DPR) is presently 51.81%.

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.