Superior Plus (TSE:SPB) Shares Pass Above 200 Day Moving Average – Here’s Why

Superior Plus Corp. (TSE:SPB) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.26 and traded as high as C$8.17. Superior Plus shares last traded at C$8.06, with a volume of 634,214 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Desjardins upped their target price on Superior Plus from C$7.00 to C$7.75 and gave the company a “hold” rating in a report on Friday, May 15th. Raymond James Financial downgraded shares of Superior Plus from a “moderate buy” rating to a “hold” rating and reduced their price objective for the company from C$9.75 to C$8.50 in a research report on Monday, February 23rd. TD upped their price objective on shares of Superior Plus from C$7.50 to C$8.00 and gave the stock a “hold” rating in a report on Friday, May 15th. TD Securities cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, BMO Capital Markets lowered shares of Superior Plus from an “outperform” rating to a “hold” rating and cut their target price for the company from C$9.00 to C$8.00 in a research note on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Superior Plus has a consensus rating of “Hold” and a consensus target price of C$8.48.

Superior Plus Price Performance

The stock has a market cap of C$1.73 billion, a PE ratio of 38.38 and a beta of 0.30. The business has a fifty day simple moving average of C$7.67 and a two-hundred day simple moving average of C$7.26. The company has a current ratio of 1.22, a quick ratio of 0.46 and a debt-to-equity ratio of 193.28.

Superior Plus (TSE:SPB) last released its earnings results on Wednesday, May 13th. The company reported C$0.94 EPS for the quarter. Superior Plus had a return on equity of 5.20% and a net margin of 2.01%.The company had revenue of C$1.25 billion during the quarter.

Superior Plus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.18 annualized dividend and a yield of 2.2%. Superior Plus’s dividend payout ratio (DPR) is currently 62.09%.

Insider Buying and Selling

In other Superior Plus news, insider Dale Alan Winger bought 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average price of C$7.65 per share, for a total transaction of C$76,500.00. Following the acquisition, the insider owned 41,000 shares in the company, valued at approximately C$313,650. This represents a 32.26% increase in their position. Insiders acquired a total of 15,000 shares of company stock worth $118,360 over the last ninety days. Company insiders own 0.54% of the company’s stock.

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. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.