Superior Plus (TSE:SPB) Upgraded at CIBC

CIBC upgraded shares of Superior Plus (TSE:SPB) from a neutral rating to an outperform rating in a research note released on Wednesday morning,BayStreet.CA reports. They currently have C$9.00 target price on the stock, up from their previous target price of C$8.50.

SPB has been the subject of several other reports. TD Securities upgraded Superior Plus from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Scotiabank lowered their price target on Superior Plus from C$10.00 to C$8.50 in a report on Monday, November 17th. Finally, BMO Capital Markets boosted their price objective on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Superior Plus presently has an average rating of “Moderate Buy” and an average target price of C$9.28.

Superior Plus Price Performance

Superior Plus stock opened at C$7.08 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. The company has a 50-day moving average price of C$7.49 and a 200 day moving average price of C$7.57. Superior Plus has a 12-month low of C$5.77 and a 12-month high of C$8.34. The stock has a market cap of C$1.58 billion, a P/E ratio of 101.14 and a beta of 0.17.

Superior Plus (TSE:SPB) last posted its quarterly earnings results on Thursday, November 13th. The company reported C($0.41) earnings per share for the quarter. The firm had revenue of C$470.64 million during the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%.

Superior Plus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, September 29th. Superior Plus’s payout ratio is currently 182.88%.

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.