Superior Plus (TSE:SPB) Stock Price Down 0.2% - Here's What Happened

Superior Plus Corp. (TSE:SPB - Get Free Report)'s share price traded down 0.2% during trading on Thursday . The stock traded as low as C$8.12 and last traded at C$8.16. 589,735 shares changed hands during trading, a decline of 29% from the average session volume of 830,190 shares. The stock had previously closed at C$8.18.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SPB. Raymond James Financial lowered their price target on Superior Plus from C$11.50 to C$10.50 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. TD Securities cut shares of Superior Plus from a "buy" rating to a "hold" rating and cut their price target for the stock from C$9.50 to C$8.50 in a research note on Thursday. Scotiabank upgraded shares of Superior Plus from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from C$7.50 to C$9.50 in a research note on Monday, April 7th. BMO Capital Markets lifted their target price on shares of Superior Plus from C$9.00 to C$10.00 in a research note on Thursday, May 22nd. Finally, National Bankshares raised their price target on shares of Superior Plus from C$6.50 to C$7.50 and gave the company a "sector perform" rating in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$9.95.

Superior Plus Stock Performance

The firm has a market cap of C$1.26 billion, a P/E ratio of 27.50 and a beta of 0.76. 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's 50 day moving average is C$7.91 and its 200 day moving average is C$6.96.

Superior Plus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, June 30th. Superior Plus's payout ratio is currently 264.73%.

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.