Superior Plus (TSE:SPB) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Superior Plus Corp. (TSE:SPB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.43 and traded as high as C$7.98. Superior Plus shares last traded at C$7.89, with a volume of 576,499 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SPB shares. TD Securities upped their price objective on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. BMO Capital Markets boosted their price target on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Desjardins cut their price target on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a report on Wednesday, August 13th. Finally, Raymond James Financial cut their price target on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$9.53.

Superior Plus Stock Performance

The stock has a market cap of C$1.76 billion, a P/E ratio of 37.57 and a beta of 0.21. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The business has a 50 day moving average price of C$7.49 and a two-hundred day moving average price of C$7.43.

Superior Plus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a yield of 2.3%. Superior Plus’s dividend payout ratio is presently 109.01%.

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.