ATB Cormark Capital Markets Issues Positive Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price objective increased by ATB Cormark Capital Markets from C$8.50 to C$9.00 in a research note published on Friday morning,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus cut their price target on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. National Bank Financial cut their target price on Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce upgraded Superior Plus from a “hold” rating to an “outperformer” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada cut their target price on 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. Finally, Raymond James Financial cut Superior Plus from a “moderate buy” rating to a “hold” rating and cut their target price for the stock from C$9.75 to C$8.50 in a research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$8.11.

Superior Plus Stock Down 2.3%

Shares of TSE SPB opened at C$7.61 on Friday. The stock has a market cap of C$1.63 billion, a P/E ratio of 36.24 and a beta of 0.29. The company has a current ratio of 1.22, a quick ratio of 0.46 and a debt-to-equity ratio of 193.28. Superior Plus has a 12-month low of C$6.06 and a 12-month high of C$8.34. The business’s fifty day simple moving average is C$6.92 and its 200-day simple moving average is C$7.15.

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

Superior Plus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.045 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.4%. Superior Plus’s payout ratio is 62.09%.

Insider Activity at Superior Plus

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

Superior Plus Company Profile

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.