Superior Plus (TSE:SPB) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Superior Plus Corp. shares have recently crossed above their 200-day moving average, indicating a potential upward trend, with shares trading as high as C$7.32.
• Multiple brokerages have revised their price targets for Superior Plus, with BMO Capital Markets lowering theirs from C$10.00 to C$8.00 while maintaining an "outperform" rating.
• The company declared a quarterly dividend of $0.045 per share, resulting in an annualized dividend of $0.18 and a yield of 2.5%, despite a high payout ratio of 363.82%.

Superior Plus Corp. (TSE:SPB - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.16 and traded as high as C$7.32. Superior Plus shares last traded at C$7.31, with a volume of 367,884 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SPB shares. Raymond James Financial cut their price objective on shares of Superior Plus from C$10.50 to C$10.00 and set an "outperform" rating on the stock in a report on Thursday, August 14th. TD Securities decreased their target price on shares of Superior Plus from C$8.50 to C$8.00 and set a "hold" rating for the company in a research report on Wednesday, August 13th. BMO Capital Markets lowered their target price on shares of Superior Plus from C$10.00 to C$8.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. Finally, Desjardins decreased their price target on shares of Superior Plus from C$10.50 to C$9.75 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$9.16.

Superior Plus Trading Up 0.5%

The business's 50-day moving average is C$7.37 and its two-hundred day moving average is C$7.17. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 193.35. The stock has a market capitalization of C$1.75 billion, a PE ratio of 83.56 and a beta of 0.23.

Superior Plus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.4%. Superior Plus's dividend payout ratio (DPR) is 363.82%.

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.