Superior Plus (TSE:SPB) Trading Up 5.8% – Time to Buy?

Shares of Superior Plus Corp. (TSE:SPB) rose 5.8% on Thursday . The company traded as high as C$7.85 and last traded at C$7.84. Approximately 677,013 shares changed hands during trading, a decline of 33% from the average daily volume of 1,012,365 shares. The stock had previously closed at C$7.41.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SPB shares. ATB Cormark Capital Markets lifted their target price on shares of Superior Plus from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised Superior Plus from a “hold” rating to an “outperformer” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada lowered their price target on Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. National Bank Financial cut their price objective on Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating for the company in a report on Monday, February 23rd. Finally, TD boosted their target price on shares of Superior Plus from C$7.00 to C$7.50 and gave the company a “hold” rating in a research note on Tuesday, April 21st. 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 currently has a consensus rating of “Hold” and a consensus target price of C$7.82.

Superior Plus Stock Up 5.1%

The firm has a market capitalization of C$1.67 billion, a price-to-earnings ratio of 31.16 and a beta of 0.29. The firm has a fifty day moving average price of C$6.88 and a 200 day moving average price of C$7.15. The company has a current ratio of 0.95, a quick ratio of 0.46 and a debt-to-equity ratio of 244.09.

Superior Plus (TSE:SPB) last released its quarterly earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. Superior Plus had a return on equity of 6.95% and a net margin of 2.49%.The firm 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 $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, March 31st. Superior Plus’s payout ratio is currently 51.81%.

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.