Superior Plus (TSE:SPB) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Technical move: Shares of Superior Plus passed above its 200-day moving average (C$7.18), trading as high as C$7.55 and last at C$7.44 on volume of 369,714.
• Analyst sentiment: Several firms issued downgrades and cut price targets on Feb. 23, and MarketBeat shows a consensus rating of "Hold" with an average price target of C$7.82.
• Financials & dividend: The company carries high leverage (debt-to-equity 244.09), has a PE of 29.76, reported quarterly EPS of C$0.37, and pays a quarterly dividend of C$0.045 (annualized yield ~2.4%, DPR ~51.8%).

Shares of Superior Plus Corp. (TSE:SPB - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.18 and traded as high as C$7.55. Superior Plus shares last traded at C$7.44, with a volume of 369,714 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SPB. Scotiabank downgraded Superior Plus from an "outperform" rating to a "hold" rating and cut their price target for the stock from C$8.50 to C$6.50 in a research note on Monday, February 23rd. TD Securities downgraded shares of Superior Plus from a "strong-buy" rating to a "hold" rating in a report on Monday, February 23rd. Royal Bank Of Canada dropped their target price on shares of Superior Plus from C$11.00 to C$10.00 and set an "outperform" rating for the company in a report on Monday, February 23rd. Desjardins downgraded shares of Superior Plus from a "buy" rating to a "hold" rating and dropped their target price for the company from C$8.75 to C$7.00 in a report on Monday, February 23rd. Finally, National Bank Financial dropped their target price on shares of Superior Plus from C$7.00 to C$6.00 and set a "sector perform" rating for the company in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$7.82.

Superior Plus Price Performance

The company has a debt-to-equity ratio of 244.09, a quick ratio of 0.46 and a current ratio of 0.95. The company's fifty day simple moving average is C$6.74 and its two-hundred day simple moving average is C$7.18. The stock has a market capitalization of C$1.60 billion, a PE ratio of 29.76 and a beta of 0.21.

Superior Plus (TSE:SPB - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported C$0.37 earnings per share for the quarter. The firm had revenue of C($3.43) million during the quarter. Superior Plus had a net margin of 2.49% and a return on equity of 6.95%.

Superior Plus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, March 31st. Superior Plus's dividend payout ratio (DPR) is currently 51.81%.

About Superior Plus

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.

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