Superior Plus (TSE:SPB) Sets New 1-Year High – What’s Next?

Superior Plus Corp. (TSE:SPB)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$8.35 and last traded at C$8.31, with a volume of 1663831 shares changing hands. The stock had previously closed at C$7.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. ATB Cormark Capital Markets lifted their price objective on Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce upgraded shares of Superior Plus from a “hold” rating to an “outperformer” rating in a research note on Tuesday, April 21st. National Bank Financial raised their price target on shares of Superior Plus from C$6.00 to C$7.50 and gave the company a “sector perform” rating in a report on Friday, May 15th. Scotiabank lifted their price target on shares of Superior Plus from C$7.00 to C$8.50 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Finally, TD Securities cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$8.39.

Superior Plus Stock Up 6.7%

The company has a quick ratio of 0.46, a current ratio of 1.22 and a debt-to-equity ratio of 193.28. The company has a market cap of C$1.79 billion, a P/E ratio of 39.62 and a beta of 0.29. The company has a fifty day moving average of C$7.05 and a 200 day moving average of C$7.13.

Superior Plus (TSE:SPB) last posted its earnings results on Wednesday, May 13th. The company reported C$0.94 earnings per share for the quarter. The company had revenue of C$1.25 billion for the quarter. Superior Plus had a return on equity of 4.59% and a net margin of 1.69%.

Superior Plus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were paid a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, March 31st. Superior Plus’s dividend payout ratio is 62.09%.

Insider Activity

In other Superior Plus news, insider Dale Alan Winger acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of C$7.65 per share, with a total value of C$76,500.00. Following the completion of the acquisition, the insider owned 41,000 shares in the company, valued at C$313,650. This represents a 32.26% increase in their position. 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.