Superior Plus (TSE:SPB) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Superior Plus Corp. stock price surpassed its 200-day moving average of C$7.26, trading as high as C$7.79 recently.
• Analysts have revised their price targets for Superior Plus, with BMO Capital Markets lowering it from C$10.00 to C$8.00, while others also adjusted their targets, indicating a consensus target price of C$9.16.
• The company declared a quarterly dividend of $0.045 per share, representing a dividend yield of 2.3% with a payout ratio of 109.01%.

Superior Plus Corp. (TSE:SPB - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.26 and traded as high as C$7.79. Superior Plus shares last traded at C$7.73, with a volume of 461,328 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPB. BMO Capital Markets cut their target price on 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. Desjardins cut their price objective 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. Raymond James Financial reduced their target price on Superior Plus from C$10.50 to C$10.00 and set an "outperform" rating on the stock in a research note on Thursday, August 14th. Finally, TD Securities dropped their price target on Superior Plus from C$8.50 to C$8.00 and set a "hold" rating for the company in a research note on Wednesday, August 13th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$9.16.

Superior Plus Price Performance

The stock has a market capitalization of C$1.71 billion, a P/E ratio of 36.62 and a beta of 0.23. 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 firm has a fifty day moving average price of C$7.26 and a two-hundred day moving average price of C$7.28.

Superior Plus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.3%. Superior Plus's payout ratio is currently 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.