Sprague Resources LP (NYSE:SRLP) declared a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Investors of record on Monday, November 6th will be given a dividend of 0.6225 per share by the oil and gas company on Monday, November 13th. This represents a $2.49 dividend on an annualized basis and a yield of 9.82%. The ex-dividend date is Friday, November 3rd. This is a boost from Sprague Resources’s previous quarterly dividend of $0.61.
Sprague Resources has a payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sprague Resources to earn $3.32 per share next year, which means the company should continue to be able to cover its $2.49 annual dividend with an expected future payout ratio of 75.0%.
Sprague Resources (NYSE SRLP) opened at $25.35 on Friday. Sprague Resources has a 1-year low of $22.50 and a 1-year high of $30.75. The company has a current ratio of 2.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $571.72, a PE ratio of 14.16 and a beta of 1.40.
Sprague Resources (NYSE:SRLP) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.40). The company had revenue of $513.63 million for the quarter, compared to analyst estimates of $529.66 million. Sprague Resources had a return on equity of 24.89% and a net margin of 1.50%. analysts forecast that Sprague Resources will post 3.12 EPS for the current fiscal year.
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SRLP has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Sprague Resources from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub downgraded shares of Sprague Resources from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th.
Sprague Resources Company Profile
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