TheStreet downgraded shares of Sprague Resources (NYSE:SRLP) from a b- rating to a c rating in a report published on Monday morning, Analyst Price Targets reports.
Separately, Zacks Investment Research downgraded shares of Sprague Resources from a hold rating to a strong sell rating in a report on Tuesday, March 9th.
NYSE SRLP opened at $23.08 on Monday. The business’s fifty day moving average is $21.39 and its 200 day moving average is $18.96. Sprague Resources has a fifty-two week low of $12.26 and a fifty-two week high of $23.16. The company has a debt-to-equity ratio of 5.50, a quick ratio of 0.57 and a current ratio of 1.00. The company has a market capitalization of $529.59 million, a PE ratio of 15.18 and a beta of 0.96.
Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Thursday, March 4th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.22). The company had revenue of $627.43 million for the quarter, compared to analysts’ expectations of $680.13 million. Sprague Resources had a net margin of 1.44% and a return on equity of 43.45%. On average, sell-side analysts forecast that Sprague Resources will post 1.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 10th. Investors of record on Tuesday, February 2nd were paid a dividend of $0.6675 per share. This is a boost from Sprague Resources’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, February 1st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 11.57%. Sprague Resources’s payout ratio is 242.73%.
A number of hedge funds have recently modified their holdings of the business. Hartree Partners LP lifted its holdings in Sprague Resources by 7.8% in the 3rd quarter. Hartree Partners LP now owns 2,087,358 shares of the oil and gas company’s stock worth $31,582,000 after purchasing an additional 151,084 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Sprague Resources by 8.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 51,623 shares of the oil and gas company’s stock worth $978,000 after acquiring an additional 3,830 shares during the last quarter. HighTower Advisors LLC grew its stake in Sprague Resources by 4.6% during the fourth quarter. HighTower Advisors LLC now owns 11,300 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 500 shares in the last quarter. Citigroup Inc. increased its holdings in Sprague Resources by 366.4% in the 4th quarter. Citigroup Inc. now owns 6,861 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 5,390 shares during the last quarter. Finally, Charter Oak Capital Management LLC purchased a new stake in Sprague Resources in the 4th quarter worth $98,000. Institutional investors and hedge funds own 10.67% of the company’s stock.
About Sprague Resources
Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States and Canada. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.
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