Superior Plus (TSE:SPB) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Superior Plus Corp. shares have recently crossed above their 200-day moving average, indicating a potential bullish trend, with the current trading price at C$7.89.
• Analyst ratings have varied, with target prices downgraded by several firms, leading to an average rating of "Moderate Buy" and a price target of C$9.16.
• The company declared a quarterly dividend of $0.045, providing a yield of 2.3%, with a payout ratio exceeding 109%.

Shares of Superior Plus Corp. (TSE:SPB - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.31 and traded as high as C$7.96. Superior Plus shares last traded at C$7.89, with a volume of 446,953 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on SPB. BMO Capital Markets reduced 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 report on Wednesday, August 13th. TD Securities reduced their price target on shares of Superior Plus from C$8.50 to C$8.00 and set a "hold" rating on the stock in a research report on Wednesday, August 13th. Desjardins dropped their target price on Superior Plus from C$10.50 to C$9.75 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, 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 research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$9.16.

Superior Plus Price Performance

The business's 50-day simple moving average is C$7.26 and its 200 day simple moving average is C$7.31. The company has a market capitalization of C$1.76 billion, a P/E ratio of 37.57 and a beta of 0.23. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35.

Superior Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be given a $0.045 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.18 annualized dividend and a yield of 2.3%. Superior Plus's payout ratio is 109.01%.

Superior Plus Company Profile

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.

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