Desjardins Issues Positive Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price objective upped by Desjardins from C$7.00 to C$7.75 in a report published on Friday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other equities analysts have also recently issued reports on SPB. ATB Cormark Capital Markets boosted their price objective on Superior Plus from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Friday. TD boosted their price objective on Superior Plus from C$7.00 to C$7.50 and gave the company a “hold” rating in a report on Tuesday, April 21st. Raymond James Financial cut Superior Plus from a “moderate buy” rating to a “hold” rating and decreased their price objective for the company from C$9.75 to C$8.50 in a report on Monday, February 23rd. Royal Bank Of Canada decreased their price objective on Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a report on Monday, February 23rd. Finally, Scotiabank cut Superior Plus from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$8.50 to C$6.50 in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Superior Plus has an average rating of “Hold” and a consensus target price of C$8.11.

Superior Plus Stock Performance

Shares of SPB stock opened at C$7.61 on Friday. The stock has a market cap of C$1.63 billion, a PE ratio of 36.24 and a beta of 0.29. The business has a 50-day simple moving average of C$6.92 and a 200-day simple moving average of C$7.15. The company has a quick ratio of 0.46, a current ratio of 1.22 and a debt-to-equity ratio of 193.28. Superior Plus has a 52-week low of C$6.06 and a 52-week high of C$8.34.

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 business had revenue of C$1.25 billion during the quarter. Superior Plus had a return on equity of 4.59% and a net margin of 1.69%.

Superior Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued 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 dividend payout ratio is presently 62.09%.

Insiders Place Their Bets

In other Superior Plus news, insider Dale Alan Winger purchased 10,000 shares of Superior Plus stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of C$7.65 per share, with a total value of C$76,500.00. Following the acquisition, the insider owned 41,000 shares of the company’s stock, valued at C$313,650. This trade represents a 32.26% increase in their position. 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.