Superior Plus (TSE:SPB) Sets New 1-Year High After Analyst Upgrade

Superior Plus Corp. (TSE:SPB) reached a new 52-week high during trading on Tuesday after National Bank Financial raised their price target on the stock from C$7.50 to C$8.50. National Bank Financial currently has a sector perform rating on the stock. Superior Plus traded as high as C$8.78 and last traded at C$8.30, with a volume of 1514421 shares trading hands. The stock had previously closed at C$8.39.

SPB has been the topic of several other research reports. ATB Cormark Capital Markets boosted their target price on Superior Plus from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. BMO Capital Markets cut Superior Plus from an “outperform” rating to a “hold” rating and cut their target price for the company from C$9.00 to C$8.00 in a research note on Friday, February 20th. Stifel Nicolaus boosted their target price on Superior Plus from C$9.00 to C$10.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Raymond James Financial cut Superior Plus from a “moderate buy” rating to a “hold” rating and cut their target price for the company from C$9.75 to C$8.50 in a research note on Monday, February 23rd. Finally, Scotiabank boosted their target price on Superior Plus from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$8.48.

Insider Buying and Selling at Superior Plus

In other news, insider Dale Alan Winger bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the purchase, the insider owned 41,000 shares of the company’s stock, valued at C$313,650. This represents a 32.26% increase in their ownership of the stock. Corporate insiders own 0.54% of the company’s stock.

Superior Plus Stock Down 1.1%

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 firm’s 50 day moving average is C$7.22 and its two-hundred day moving average is C$7.14. The firm has a market capitalization of C$1.78 billion, a P/E ratio of 39.52 and a beta of 0.29.

Superior Plus (TSE:SPB) last posted its quarterly earnings results on Wednesday, May 13th. The company reported C$0.94 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 during the quarter.

Superior Plus Announces Dividend

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 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 yield of 2.2%. Superior Plus’s dividend payout ratio (DPR) is presently 62.09%.

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.