Recent Analysts’ Ratings Changes for Sprague Resources (SRLP)

Sprague Resources (NYSE: SRLP) has recently received a number of price target changes and ratings updates:

  • 8/10/2019 – Sprague Resources was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “
  • 8/9/2019 – Sprague Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $19.00 price target on the stock. According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “
  • 8/1/2019 – Sprague Resources was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “
  • 7/24/2019 – Sprague Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $21.00 price target on the stock. According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “
  • 6/19/2019 – Sprague Resources was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “

Shares of SRLP traded down $0.21 during mid-day trading on Tuesday, reaching $16.79. 30,664 shares of the stock traded hands, compared to its average volume of 48,615. The business has a fifty day simple moving average of $18.06. The firm has a market cap of $386.41 million, a P/E ratio of 5.31 and a beta of 1.46. The company has a current ratio of 2.03, a quick ratio of 1.37 and a debt-to-equity ratio of 4.50. Sprague Resources LP has a 1 year low of $13.76 and a 1 year high of $28.00.

Sprague Resources (NYSE:SRLP) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $662.02 million during the quarter, compared to analyst estimates of $656.16 million. Sprague Resources had a net margin of 1.19% and a return on equity of 32.23%. Equities analysts anticipate that Sprague Resources LP will post 1.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given a dividend of $0.668 per share. This is a positive change from Sprague Resources’s previous quarterly dividend of $0.65. This represents a $2.67 dividend on an annualized basis and a dividend yield of 15.91%. The ex-dividend date of this dividend was Friday, August 2nd. Sprague Resources’s payout ratio is 84.49%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in shares of Sprague Resources during the 2nd quarter worth $33,000. Optimum Investment Advisors lifted its holdings in shares of Sprague Resources by 33.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 1,000 shares during the last quarter. Advantage Investment Management LLC bought a new stake in shares of Sprague Resources during the 2nd quarter worth $267,000. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Sprague Resources by 4.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 15,494 shares of the oil and gas company’s stock worth $286,000 after acquiring an additional 600 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Sprague Resources by 8.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,690 shares of the oil and gas company’s stock worth $491,000 after acquiring an additional 2,190 shares during the last quarter. 17.37% of the stock is owned by institutional investors.

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.

Further Reading: Ex-Dividend

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