Superior Plus (TSE:SPB) Shares Pass Above 200 Day Moving Average – Here’s Why
by Scott Moore · The Cerbat GemSuperior Plus Corp. (TSE:SPB – Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.26 and traded as high as C$8.17. Superior Plus shares last traded at C$8.06, with a volume of 634,214 shares.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on SPB. TD raised their target price on shares of Superior Plus from C$7.50 to C$8.00 and gave the company a “hold” rating in a research note on Friday, May 15th. TD Securities cut Superior Plus from a “strong-buy” rating to a “hold” rating 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 note on Tuesday, April 21st. ATB Cormark Capital Markets raised their price objective on Superior Plus from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Finally, Raymond James Financial cut Superior Plus from a “moderate buy” rating to a “hold” rating and lowered their price objective for the company from C$9.75 to C$8.50 in a research note on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$8.48.
Read Our Latest Stock Report on Superior Plus
Superior Plus Stock Up 0.2%
The company’s 50-day moving average is C$7.67 and its 200 day moving average is C$7.26. The company has a market capitalization of C$1.73 billion, a PE ratio of 38.38 and a beta of 0.30. The company has a debt-to-equity ratio of 193.28, a quick ratio of 0.46 and a current ratio of 1.22.
Superior Plus (TSE:SPB – Get Free Report) last issued its earnings results 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 net margin of 2.01% and a return on equity of 5.20%.
Superior Plus Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, March 31st. Superior Plus’s payout ratio is presently 62.09%.
Insider Transactions at Superior Plus
In other Superior Plus news, insider Dale Alan Winger purchased 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the acquisition, the insider directly owned 41,000 shares in the company, valued at C$313,650. This trade represents a 32.26% increase in their position. Over the last quarter, insiders purchased 15,000 shares of company stock valued at $118,360. Corporate 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.