Sprague Resources LP (NYSE:SRLP) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.40, Morningstar.com reports. The business had revenue of $513.63 million for the quarter, compared to analyst estimates of $529.66 million. Sprague Resources had a return on equity of 29.85% and a net margin of 1.72%.
Shares of Sprague Resources (NYSE:SRLP) traded up 0.57% during trading on Thursday, reaching $26.65. 17,814 shares of the company’s stock were exchanged. The company’s 50-day moving average is $27.55 and its 200 day moving average is $27.09. Sprague Resources has a 52 week low of $22.50 and a 52 week high of $30.75. The stock has a market capitalization of $600.77 million, a PE ratio of 13.56 and a beta of 1.39.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be given a dividend of $0.608 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.43 dividend on an annualized basis and a yield of 9.13%. This is an increase from Sprague Resources’s previous quarterly dividend of $0.46. Sprague Resources’s dividend payout ratio is presently 125.26%.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/2798589/sprague-resources-lp-nysesrlp-announces-earnings-results-misses-expectations-by-0-40-eps.html.
A number of analysts recently weighed in on SRLP shares. Zacks Investment Research upgraded shares of Sprague Resources from a “strong sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Tuesday, May 9th. BidaskClub cut shares of Sprague Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.67.
In other news, Director Ben J. Hennelly sold 2,456 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $26.94, for a total transaction of $66,164.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Several institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP purchased a new position in shares of Sprague Resources during the second quarter valued at about $9,192,000. Van ECK Associates Corp purchased a new position in shares of Sprague Resources during the first quarter valued at about $2,957,000. Advantus Capital Management Inc increased its position in shares of Sprague Resources by 46.1% in the first quarter. Advantus Capital Management Inc now owns 39,301 shares of the oil and gas company’s stock valued at $1,065,000 after buying an additional 12,400 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Sprague Resources during the first quarter valued at about $245,000. Finally, UBS Group AG increased its position in shares of Sprague Resources by 79.3% in the first quarter. UBS Group AG now owns 19,273 shares of the oil and gas company’s stock valued at $522,000 after buying an additional 8,523 shares during the period. 24.41% of the stock is owned by institutional investors.
About Sprague Resources
Receive News & Ratings for Sprague Resources LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprague Resources LP and related companies with MarketBeat.com's FREE daily email newsletter.