Sprague Resources LP (NYSE:SRLP) announced a quarterly dividend on Friday, July 24th, Zacks reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.668 per share by the oil and gas company on Monday, August 10th. This represents a $2.67 dividend on an annualized basis and a yield of 14.52%. The ex-dividend date of this dividend is Monday, August 3rd.
Sprague Resources has raised its dividend payment by an average of 23.6% per year over the last three years and has raised its dividend every year for the last 5 years. Sprague Resources has a dividend payout ratio of 147.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sprague Resources to earn $1.44 per share next year, which means the company may not be able to cover its $2.67 annual dividend with an expected future payout ratio of 185.4%.
NYSE:SRLP opened at $18.40 on Friday. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.98 and a quick ratio of 0.82. The business has a fifty day simple moving average of $15.70 and a two-hundred day simple moving average of $14.51. Sprague Resources has a 1 year low of $9.83 and a 1 year high of $19.10. The company has a market capitalization of $422.47 million, a P/E ratio of 11.17 and a beta of 1.25.
Sprague Resources (NYSE:SRLP) last released its earnings results on Thursday, May 7th. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.15 by $0.80. Sprague Resources had a return on equity of 39.05% and a net margin of 1.31%. The business had revenue of $959.88 million during the quarter, compared to the consensus estimate of $1.09 billion. As a group, analysts anticipate that Sprague Resources will post 1.94 earnings per share for the current year.
In other Sprague Resources news, Director Sprague Resources Holdings Llc acquired 723,738 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $13.85 per share, with a total value of $10,023,771.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of equities analysts have recently commented on SRLP shares. Zacks Investment Research raised Sprague Resources from a "hold" rating to a "strong-buy" rating and set a $18.00 price target for the company in a report on Friday, July 24th. ValuEngine lowered Sprague Resources from a "hold" rating to a "sell" rating in a report on Friday, May 8th.
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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20 Stocks Analysts Can't Stop Upgrading
As you know, a single upgrade from a broker probably won't be a major game changer for any single stock. But, what if there was a stock that had been upgraded by more than 10 different brokers during the last 90 days?
If ten different brokers have all upgraded a stock within the last few months and the price hasn't skyrocketed (at least, not yet), you would want to take a pretty hard look at it.
It turns out that there are actually 20 different companies that have been upgraded or had their price target increased at least ten times during the last ninety days by more than 10 different brokers. This slideshow lists those companies.
View the "20 Stocks Analysts Can't Stop Upgrading".