Superior Plus (TSE:SPB) Rating Increased to Outperformer at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Superior Plus (TSE:SPB) from a neutral rating to an outperformer rating in a report published on Tuesday morning,BayStreet.CA reports.

SPB has been the subject of several other reports. Royal Bank Of Canada dropped their price objective on Superior Plus from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research note on Monday, February 23rd. Raymond James Financial downgraded shares of Superior Plus from a “moderate buy” rating to a “hold” rating and reduced their target price for the company from C$9.75 to C$8.50 in a research note on Monday, February 23rd. TD Securities lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Scotiabank cut shares of Superior Plus from an “outperform” rating to a “hold” rating and dropped their target price for the stock from C$8.50 to C$6.50 in a research report on Monday, February 23rd. Finally, Stifel Nicolaus cut their price target on shares of Superior Plus from C$10.00 to C$9.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$7.77.

Superior Plus Trading Up 3.2%

SPB stock opened at C$7.37 on Tuesday. Superior Plus has a 1-year low of C$6.06 and a 1-year high of C$8.34. The firm has a market cap of C$1.58 billion, a P/E ratio of 29.48 and a beta of 0.21. The business’s 50 day moving average is C$6.78 and its 200-day moving average is C$7.19. 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 issued its earnings results on Thursday, February 19th. The company reported C$0.37 earnings per share (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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were paid a $0.045 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.18 dividend on an annualized basis and a yield of 2.4%. 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.