Equities analysts expect that Sprague Resources LP (NYSE:SRLP) will post sales of $922.98 million for the current quarter, according to Zacks. Two analysts have issued estimates for Sprague Resources’ earnings. The highest sales estimate is $939.48 million and the lowest is $906.48 million. Sprague Resources posted sales of $766.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.4%. The firm is expected to report its next earnings report on Friday, March 9th.
According to Zacks, analysts expect that Sprague Resources will report full year sales of $922.98 million for the current year, with estimates ranging from $2.83 billion to $2.86 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.28 billion per share, with estimates ranging from $2.95 billion to $3.61 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Sprague Resources.
A number of analysts have recently commented on SRLP shares. ValuEngine cut Sprague Resources from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. B. Riley set a $29.00 target price on Sprague Resources and gave the stock a “buy” rating in a research note on Monday, December 18th. Finally, Zacks Investment Research raised Sprague Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.67.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in Sprague Resources during the 3rd quarter worth approximately $219,000. Virtu KCG Holdings LLC bought a new stake in Sprague Resources during the 2nd quarter worth approximately $255,000. Susquehanna International Group LLP bought a new stake in Sprague Resources during the 2nd quarter worth approximately $265,000. First Republic Investment Management Inc. increased its stake in Sprague Resources by 48.6% during the 4th quarter. First Republic Investment Management Inc. now owns 12,475 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 4,080 shares in the last quarter. Finally, Taylor Wealth Management Partners increased its stake in Sprague Resources by 249.5% during the 4th quarter. Taylor Wealth Management Partners now owns 13,490 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 9,630 shares in the last quarter. 22.14% of the stock is owned by institutional investors and hedge funds.
Shares of Sprague Resources (SRLP) traded up $0.10 during mid-day trading on Tuesday, hitting $24.40. The stock had a trading volume of 16,426 shares, compared to its average volume of 31,662. The company has a current ratio of 2.35, a quick ratio of 1.16 and a debt-to-equity ratio of 0.26. The company has a market cap of $550.29, a PE ratio of 13.63 and a beta of 1.36. Sprague Resources has a one year low of $22.95 and a one year high of $30.75.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Tuesday, February 6th were paid a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a yield of 10.45%. This is a boost from Sprague Resources’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, February 5th. Sprague Resources’s dividend payout ratio is presently 142.46%.
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About Sprague Resources
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a range of materials. The Company operates through four segments: refined products, which purchases a range of refined products, such as heating oil, diesel fuel, residual fuel oil, asphalt, kerosene, jet fuel and gasoline from refining companies, trading organizations and producers; natural gas, which purchases natural gas from natural gas producers and trading companies, and sells and distributes natural gas to commercial and industrial customers in the Northeast and Mid-Atlantic United States; materials handling, which offloads, stores and prepares for delivery a range of customer-owned products, including asphalt, clay slurry, coal and heavy equipment, and other operations, which include the purchase and distribution of coal, certain commercial trucking activities and the heating equipment service business.
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