Zacks Investment Research lowered shares of Sprague Resources LP (NYSE:SRLP) from a hold rating to a strong sell rating in a research report report published on Friday.

According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “

Separately, BidaskClub raised Sprague Resources from a sell rating to a hold rating in a research report on Monday, July 31st.

Shares of Sprague Resources (NYSE:SRLP) opened at $25.30 on Friday. Sprague Resources has a 1 year low of $22.50 and a 1 year high of $30.75. The firm has a market capitalization of $570.35, a PE ratio of 14.16 and a beta of 1.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.16 and a current ratio of 2.35.

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The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were given a dividend of $0.6225 per share. The ex-dividend date was Friday, November 3rd. This is an increase from Sprague Resources’s previous quarterly dividend of $0.61. This represents a $2.49 dividend on an annualized basis and a yield of 9.84%. Sprague Resources’s dividend payout ratio (DPR) is 139.11%.

A number of hedge funds have recently added to or reduced their stakes in SRLP. Bank of New York Mellon Corp grew its position in Sprague Resources by 11.1% during the first quarter. Bank of New York Mellon Corp now owns 37,419 shares of the oil and gas company’s stock worth $1,014,000 after buying an additional 3,736 shares in the last quarter. UBS Group AG boosted its holdings in Sprague Resources by 79.3% during the first quarter. UBS Group AG now owns 19,273 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 8,523 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Sprague Resources by 11.3% during the first quarter. Renaissance Technologies LLC now owns 48,927 shares of the oil and gas company’s stock valued at $1,326,000 after purchasing an additional 4,963 shares in the last quarter. Creative Planning boosted its holdings in Sprague Resources by 81.8% during the second quarter. Creative Planning now owns 4,570 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 2,056 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Sprague Resources during the second quarter valued at approximately $9,192,000. 22.94% of the stock is currently owned by institutional investors and hedge funds.

Sprague Resources Company Profile

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