Superior Plus (TSE:SPB) Upgraded by CIBC to Outperform Rating

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

Other analysts have also recently issued reports about the stock. TD Securities upgraded shares of Superior Plus from a “hold” rating to a “buy” rating in a report on Monday, November 17th. BMO Capital Markets increased their target price on shares of Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Finally, Scotiabank lowered their target price on shares of Superior Plus from C$10.00 to C$8.50 in a research note on Monday, November 17th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$9.28.

Superior Plus Stock Up 2.9%

Shares of TSE SPB opened at C$7.14 on Wednesday. Superior Plus has a 12-month low of C$5.77 and a 12-month high of C$8.34. The stock’s fifty day simple moving average is C$7.52 and its two-hundred day simple moving average is C$7.57. The stock has a market capitalization of C$1.59 billion, a PE ratio of 102.00 and a beta of 0.17. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35.

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

Superior Plus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend 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.