TD Securities Cuts Superior Plus (TSE:SPB) Price Target to C$9.00

Superior Plus (TSE:SPB) had its target price trimmed by TD Securities from C$10.00 to C$9.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Cibc World Mkts cut Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. BMO Capital Markets decreased their price objective on Superior Plus from C$12.00 to C$10.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada dropped their target price on shares of Superior Plus from C$13.00 to C$11.00 in a report on Thursday, August 15th. CIBC lowered shares of Superior Plus from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$14.00 to C$10.00 in a report on Thursday, August 15th. Finally, ATB Capital dropped their price objective on shares of Superior Plus from C$13.00 to C$12.00 in a research note on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$10.27.

Superior Plus Stock Performance

Shares of Superior Plus stock opened at C$7.41 on Tuesday. Superior Plus has a 52 week low of C$7.20 and a 52 week high of C$10.36. The company has a market capitalization of C$1.84 billion, a PE ratio of -148.20 and a beta of 0.76. The stock’s fifty day moving average is C$7.64 and its two-hundred day moving average is C$8.58. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 133.90.

Superior Plus (TSE:SPB) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The company had revenue of C$578.62 million during the quarter, compared to analysts’ expectations of C$710.53 million. Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%.

Superior Plus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, September 27th. This represents a $0.72 annualized dividend and a yield of 9.72%. Superior Plus’s dividend payout ratio (DPR) is -1,440.00%.

About Superior Plus

Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.