TD Issues Positive Forecast for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its target price upped by TD from C$7.00 to C$7.50 in a research note published on Tuesday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank Of Canada cut their price target 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. Desjardins cut Superior Plus from a “buy” rating to a “hold” rating and lowered their price target for the company from C$8.75 to C$7.00 in a research note on Monday, February 23rd. National Bank Financial dropped their price objective on Superior Plus from C$7.00 to C$6.00 and set a “sector perform” rating on the stock in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce upgraded shares of Superior Plus from a “neutral” rating to an “outperformer” rating in a research note on Tuesday. Finally, TD Securities downgraded shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$7.77.

Superior Plus Trading Up 3.2%

Shares of TSE:SPB opened at C$7.37 on Tuesday. The firm has a fifty day moving average of C$6.78 and a two-hundred day moving average of C$7.19. The company has a quick ratio of 0.46, a current ratio of 0.95 and a debt-to-equity ratio of 244.09. Superior Plus has a 12-month low of C$6.06 and a 12-month high of C$8.34. The firm has a market capitalization of C$1.58 billion, a P/E ratio of 29.48 and a beta of 0.21.

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

Superior Plus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were given 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 dividend yield of 2.4%. Superior Plus’s payout ratio 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.