Sprague Resources (SRLP) Cut to Sell at ValuEngine

ValuEngine downgraded shares of Sprague Resources (NYSE:SRLP) from a hold rating to a sell rating in a report issued on Monday morning.

Separately, Zacks Investment Research upgraded Sprague Resources from a strong sell rating to a hold rating in a research note on Wednesday, January 9th. Three equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $28.00.

Shares of SRLP stock opened at $16.73 on Monday. Sprague Resources has a fifty-two week low of $13.76 and a fifty-two week high of $28.00. The stock has a market cap of $339.36 million, a PE ratio of 14.81 and a beta of 1.55. The company has a debt-to-equity ratio of 4.62, a quick ratio of 1.05 and a current ratio of 1.85.



Sprague Resources (NYSE:SRLP) last issued its quarterly earnings results on Thursday, March 14th. The oil and gas company reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.58. Sprague Resources had a return on equity of 17.62% and a net margin of 0.73%. Sell-side analysts predict that Sprague Resources will post 2.54 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 13th. Stockholders of record on Friday, February 8th were paid a dividend of $0.6675 per share. The ex-dividend date was Thursday, February 7th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 15.96%. Sprague Resources’s payout ratio is 236.28%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in Sprague Resources by 1.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 70,541 shares of the oil and gas company’s stock valued at $1,022,000 after buying an additional 1,085 shares during the last quarter. Tortoise Index Solutions LLC boosted its position in Sprague Resources by 101.7% in the fourth quarter. Tortoise Index Solutions LLC now owns 3,441 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 1,735 shares during the last quarter. Raymond James & Associates boosted its position in Sprague Resources by 10.3% in the fourth quarter. Raymond James & Associates now owns 29,886 shares of the oil and gas company’s stock valued at $433,000 after buying an additional 2,792 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Sprague Resources by 29.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 14,894 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 3,400 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its position in Sprague Resources by 3.6% in the third quarter. Cohen & Steers Inc. now owns 179,347 shares of the oil and gas company’s stock valued at $4,833,000 after buying an additional 6,280 shares during the last quarter. Hedge funds and other institutional investors own 19.99% of the company’s stock.

About Sprague Resources

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.

See Also: Lock-Up Period Expiration

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