Superior Plus (TSE:SPB) Sets New 1-Year High – What’s Next?

Superior Plus Corp. (TSE:SPB)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$8.35 and last traded at C$8.31, with a volume of 1663831 shares traded. The stock had previously closed at C$7.80.

Analyst Ratings Changes

Several brokerages recently issued reports on SPB. Royal Bank Of Canada reduced their price target on shares of Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce upgraded shares of Superior Plus from a “hold” rating to an “outperformer” rating in a report on Tuesday, April 21st. Scotiabank upped their target price on Superior Plus from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a report on Tuesday, May 19th. Stifel Nicolaus increased 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. Finally, National Bank Financial lifted their price target on Superior Plus from C$6.00 to C$7.50 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Superior Plus currently has a consensus rating of “Hold” and an average price target of C$8.39.

Superior Plus Stock 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 business’s 50-day moving average is C$7.05 and its 200-day moving average is C$7.13. The company has a market capitalization of C$1.79 billion, a PE ratio of 39.62 and a beta of 0.29.

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

Superior Plus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.045 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.18 annualized dividend and a dividend yield of 2.2%. Superior Plus’s dividend payout ratio (DPR) is presently 62.09%.

Insiders Place Their Bets

In other news, insider Dale Alan Winger bought 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the acquisition, the insider owned 41,000 shares of the company’s stock, valued at approximately C$313,650. This represents 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.