ValuEngine Lowers Sprague Resources (NYSE:SRLP) to Sell

ValuEngine downgraded shares of Sprague Resources (NYSE:SRLP) from a hold rating to a sell rating in a research note published on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research raised Sprague Resources from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Saturday, November 9th.

SRLP traded down $0.22 on Tuesday, hitting $16.46. 2,048 shares of the company traded hands, compared to its average volume of 51,182. The company has a 50 day moving average of $17.35 and a 200-day moving average of $17.54. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 5.69. The stock has a market capitalization of $379.47 million, a PE ratio of 5.23 and a beta of 1.52. Sprague Resources has a 12-month low of $13.76 and a 12-month high of $20.54.

Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.06. The firm had revenue of $582.59 million during the quarter, compared to the consensus estimate of $478.60 million. Sprague Resources had a return on equity of 42.63% and a net margin of 1.50%. On average, research analysts anticipate that Sprague Resources will post 1.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Monday, November 4th. This is an increase from Sprague Resources’s previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a yield of 16.22%. Sprague Resources’s dividend payout ratio is currently 84.49%.

A number of institutional investors and hedge funds have recently bought and sold shares of SRLP. HM Payson & Co. acquired a new position in Sprague Resources during the 2nd quarter worth approximately $27,000. Advisor Group Inc. acquired a new position in Sprague Resources during the 2nd quarter worth approximately $33,000. Optimum Investment Advisors increased its position in Sprague Resources by 33.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 1,000 shares during the period. Advantage Investment Management LLC acquired a new position in Sprague Resources during the 2nd quarter worth approximately $267,000. Finally, Beaton Management Co. Inc. increased its position in Sprague Resources by 11.5% during the 2nd quarter. Beaton Management Co. Inc. now owns 20,400 shares of the oil and gas company’s stock worth $362,000 after purchasing an additional 2,100 shares during the period. 16.36% of the stock is owned by hedge funds and other institutional investors.

Sprague Resources Company Profile

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.

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