Wall Street analysts expect Sprague Resources LP (NYSE:SRLP) to post $0.17 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Sprague Resources’ earnings. Sprague Resources reported earnings per share of ($0.48) during the same quarter last year, which suggests a positive year over year growth rate of 135.4%. The firm is scheduled to report its next earnings report on Friday, August 4th.
According to Zacks, analysts expect that Sprague Resources will report full-year earnings of $3.27 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.39. For the next financial year, analysts anticipate that the business will post earnings of $3.60 per share, with EPS estimates ranging from $3.42 to $3.79. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Sprague Resources.
Sprague Resources (NYSE:SRLP) last released its earnings results on Monday, May 8th. The oil and gas company reported $2.94 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $1.55. The business had revenue of $917.81 million for the quarter, compared to analysts’ expectations of $791.49 million. Sprague Resources had a return on equity of 24.98% and a net margin of 1.71%.
SRLP has been the topic of a number of research reports. Janney Montgomery Scott downgraded shares of Sprague Resources from a “buy” rating to a “neutral” rating in a report on Wednesday, January 11th. Zacks Investment Research downgraded shares of Sprague Resources from a “buy” rating to a “hold” rating in a report on Friday, March 10th. Finally, FBR & Co set a $35.00 target price on shares of Sprague Resources and gave the stock a “buy” rating in a report on Thursday, March 16th.
Sprague Resources (NYSE:SRLP) traded up 0.8314% on Wednesday, reaching $25.6616. The company had a trading volume of 1,944 shares. The stock has a market capitalization of $549.44 million, a PE ratio of 14.5970 and a beta of 1.45. Sprague Resources has a 12-month low of $22.14 and a 12-month high of $30.35. The stock’s 50 day moving average price is $26.70 and its 200-day moving average price is $26.25.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 8th will be issued a $0.5925 dividend. The ex-dividend date is Thursday, May 4th. This is an increase from Sprague Resources’s previous quarterly dividend of $0.46. This represents a $2.37 dividend on an annualized basis and a dividend yield of 9.31%. Sprague Resources’s payout ratio is 129.78%.
Several hedge funds have recently bought and sold shares of SRLP. Advantus Capital Management Inc increased its stake in Sprague Resources by 4.4% in the third quarter. Advantus Capital Management Inc now owns 47,281 shares of the oil and gas company’s stock worth $1,120,000 after buying an additional 1,980 shares during the period. Renaissance Technologies LLC increased its stake in Sprague Resources by 23.5% in the fourth quarter. Renaissance Technologies LLC now owns 43,964 shares of the oil and gas company’s stock worth $1,235,000 after buying an additional 8,364 shares during the period. Spirit of America Management Corp NY increased its stake in Sprague Resources by 1.1% in the first quarter. Spirit of America Management Corp NY now owns 220,282 shares of the oil and gas company’s stock worth $5,970,000 after buying an additional 2,419 shares during the period. Bank of New York Mellon Corp increased its stake in Sprague Resources by 11.1% in the first quarter. Bank of New York Mellon Corp now owns 37,419 shares of the oil and gas company’s stock worth $1,014,000 after buying an additional 3,736 shares during the period. Finally, Acrospire Investment Management LLC increased its stake in Sprague Resources by 116.0% in the first quarter. Acrospire Investment Management LLC now owns 3,905 shares of the oil and gas company’s stock worth $106,000 after buying an additional 2,097 shares during the period. Hedge funds and other institutional investors own 52.61% of the company’s stock.
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About Sprague Resources
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