Superior Plus (TSE:SPB) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Superior Plus Corp. stock price rose above its 200-day moving average, reaching C$7.46, although it last traded at C$7.33.
• Several analysts have adjusted their price targets for Superior Plus, with TD Securities lowering theirs from C$8.50 to C$8.00 and maintaining a "hold" rating.
• The company declared a quarterly dividend of $0.045 per share, translating to a yield of 2.5%, scheduled for payout on October 15th.

Superior Plus Corp. (TSE:SPB - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$7.11 and traded as high as C$7.46. Superior Plus shares last traded at C$7.33, with a volume of 475,795 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on SPB. TD Securities decreased their target price on Superior Plus from C$8.50 to C$8.00 and set a "hold" rating on the stock in a report on Wednesday, August 13th. Desjardins decreased their target price on Superior Plus from C$10.50 to C$9.75 and set a "buy" rating on the stock in a report on Wednesday, August 13th. BMO Capital Markets decreased their target price on 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. Finally, Raymond James Financial decreased their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Superior Plus has an average rating of "Moderate Buy" and an average target price of C$9.16.

Superior Plus Stock Performance

The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67. The company has a market capitalization of C$1.69 billion, a P/E ratio of 80.67 and a beta of 0.20. The business's fifty day simple moving average is C$7.42 and its 200-day simple moving average is C$7.15.

Superior Plus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 2.5%. Superior Plus's dividend payout ratio is currently 363.82%.

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.