Sprague Resources LP (NYSE:SRLP) Short Interest Update

Sprague Resources LP (NYSE:SRLP) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 26,300 shares, a growth of 189.0% from the September 15th total of 9,100 shares. Based on an average daily volume of 53,200 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the company’s shares are short sold.

Several institutional investors have recently added to or reduced their stakes in SRLP. Captrust Financial Advisors bought a new position in shares of Sprague Resources during the 1st quarter valued at $53,000. Tortoise Index Solutions LLC bought a new position in shares of Sprague Resources during the 2nd quarter valued at $223,000. Vident Investment Advisory LLC bought a new position in shares of Sprague Resources during the 2nd quarter valued at $223,000. LPL Financial LLC raised its holdings in shares of Sprague Resources by 7.4% during the 2nd quarter. LPL Financial LLC now owns 13,344 shares of the oil and gas company’s stock valued at $338,000 after purchasing an additional 914 shares in the last quarter. Finally, United Capital Financial Advisers LLC bought a new position in shares of Sprague Resources during the 2nd quarter valued at $379,000. Institutional investors and hedge funds own 1.99% of the company’s stock.

Shares of NYSE:SRLP traded up $0.10 during trading on Thursday, reaching $21.74. 332 shares of the company traded hands, compared to its average volume of 46,590. The firm has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $22.96. The firm has a market cap of $570.15 million, a P/E ratio of 33.29 and a beta of 0.88. Sprague Resources has a 1-year low of $15.00 and a 1-year high of $29.43. The company has a quick ratio of 0.56, a current ratio of 0.94 and a debt-to-equity ratio of 12.50.

Sprague Resources (NYSE:SRLP) last issued its earnings results on Thursday, August 5th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.13). The company had revenue of $657.67 million for the quarter, compared to analyst estimates of $559.36 million. Sprague Resources had a net margin of 0.57% and a return on equity of 81.24%. As a group, research analysts anticipate that Sprague Resources will post 0.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 9th. Stockholders of record on Tuesday, August 3rd were issued a dividend of $0.6675 per share. The ex-dividend date was Monday, August 2nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 12.28%. This is an increase from Sprague Resources’s previous quarterly dividend of $0.65. Sprague Resources’s dividend payout ratio (DPR) is currently 240.54%.

SRLP has been the subject of a number of research reports. Zacks Investment Research raised shares of Sprague Resources from a “sell” rating to a “hold” rating in a research note on Thursday, October 7th. TheStreet lowered shares of Sprague Resources from a “b” rating to a “c” rating in a research note on Tuesday, September 7th.

About Sprague Resources

Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates its business through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline.

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