California Public Employees Retirement System held its stake in Sprague Resources LP (NYSE:SRLP) during the first quarter, Holdings Channel reports. The institutional investor owned 43,000 shares of the oil and gas company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in Sprague Resources were worth $1,165,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Acrospire Investment Management LLC raised its stake in shares of Sprague Resources by 116.0% in the first quarter. Acrospire Investment Management LLC now owns 3,905 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 2,097 shares during the period. Friedberg Investment Management bought a new stake in shares of Sprague Resources during the first quarter valued at approximately $224,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Sprague Resources during the first quarter valued at approximately $245,000. Bank of New York Mellon Corp raised its stake in shares of Sprague Resources by 11.1% in the first quarter. Bank of New York Mellon Corp now owns 37,419 shares of the oil and gas company’s stock valued at $1,014,000 after buying an additional 3,736 shares during the period. Finally, Advantus Capital Management Inc raised its stake in shares of Sprague Resources by 46.1% in the first quarter. Advantus Capital Management Inc now owns 39,301 shares of the oil and gas company’s stock valued at $1,065,000 after buying an additional 12,400 shares during the period. Institutional investors own 24.41% of the company’s stock.

Shares of Sprague Resources LP (NYSE SRLP) opened at 26.2432 on Thursday. Sprague Resources LP has a one year low of $22.50 and a one year high of $30.75. The stock has a market capitalization of $591.60 million, a price-to-earnings ratio of 13.3485 and a beta of 1.39. The firm has a 50-day moving average of $27.55 and a 200 day moving average of $27.09.

Sprague Resources (NYSE:SRLP) last released its quarterly earnings data on Monday, May 8th. The oil and gas company reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $1.55. The company had revenue of $917.81 million during the quarter, compared to analysts’ expectations of $791.49 million. Sprague Resources had a net margin of 1.72% and a return on equity of 29.85%. On average, equities research analysts predict that Sprague Resources LP will post $4.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be given a $0.608 dividend. This represents a $2.43 annualized dividend and a yield of 9.18%. This is a boost from Sprague Resources’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, August 3rd. Sprague Resources’s payout ratio is 125.26%.

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Several analysts have commented on the stock. BidaskClub upgraded shares of Sprague Resources from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Sprague Resources from a “strong sell” rating to a “hold” rating and set a $29.00 price objective for the company in a report on Tuesday, May 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.67.

In other Sprague Resources news, Director Ben J. Hennelly sold 2,456 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $26.94, for a total value of $66,164.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sprague Resources Company Profile

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Institutional Ownership by Quarter for Sprague Resources (NYSE:SRLP)

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