Superior Plus (TSE:SPB) Trading Up 5.8% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SPB shares. TD lifted their price target on Superior Plus from C$7.50 to C$8.00 and gave the company a “hold” rating in a research note on Friday. Scotiabank lowered Superior Plus from an “outperform” rating to a “hold” rating and cut their price target for the company from C$8.50 to C$6.50 in a research note on Monday, February 23rd. Stifel Nicolaus cut their price target on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Raymond James Financial lowered Superior Plus from a “moderate buy” rating to a “hold” rating and cut their price target for the company from C$9.75 to C$8.50 in a research note on Monday, February 23rd. Finally, Desjardins boosted their price objective on Superior Plus from C$7.00 to C$7.75 and gave the stock a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$8.11.

Superior Plus Stock Down 2.3%

The stock has a market capitalization of C$1.63 billion, a price-to-earnings ratio of 36.24 and a beta of 0.29. The company has a debt-to-equity ratio of 193.28, a current ratio of 1.22 and a quick ratio of 0.46. The business has a fifty day moving average of C$6.92 and a 200 day moving average of C$7.15.

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

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 given a $0.045 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.18 dividend on an annualized basis and a yield of 2.4%. Superior Plus’s payout ratio is presently 62.09%.

Insider Transactions at Superior Plus

In other news, insider Dale Alan Winger bought 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average price of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the transaction, the insider directly owned 41,000 shares in the company, valued at C$313,650. This trade represents a 32.26% increase in their ownership of the stock. 0.54% of the stock is currently owned by insiders.

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.