Superior Plus (TSE:SPB) Price Target Raised to C$8.50 at ATB Cormark Capital Markets

Superior Plus (TSE:SPB) had its price objective boosted by ATB Cormark Capital Markets from C$8.00 to C$8.50 in a research note issued to investors on Thursday,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce upgraded Superior Plus from a “hold” rating to an “outperformer” rating in a research report on Tuesday. TD Securities downgraded Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. BMO Capital Markets downgraded Superior Plus from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$9.00 to C$8.00 in a research report on Friday, February 20th. Scotiabank downgraded Superior Plus from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$8.50 to C$6.50 in a research report on Monday, February 23rd. Finally, Desjardins cut Superior Plus from a “buy” rating to a “hold” rating and dropped their price target for the company from C$8.75 to C$7.00 in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$7.82.

Superior Plus Price Performance

Superior Plus stock opened at C$7.46 on Thursday. The company has a debt-to-equity ratio of 244.09, a current ratio of 0.95 and a quick ratio of 0.46. The company has a market capitalization of C$1.60 billion, a PE ratio of 29.84 and a beta of 0.21. Superior Plus has a one year low of C$6.06 and a one year high of C$8.34. The business has a 50 day simple moving average of C$6.78 and a 200 day simple moving average of C$7.20.

Superior Plus (TSE:SPB) last posted its earnings results on Thursday, February 19th. The company reported C$0.37 EPS for the quarter. The business had revenue of C($3.43) million during the quarter. Superior Plus had a return on equity of 6.95% and a net margin of 2.49%.

Superior Plus Dividend Announcement

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 dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Superior Plus’s dividend payout ratio (DPR) is currently 51.81%.

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.