Sprague Resources (SRLP) Hits New 52-Week Low at $19.60

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Shares of Sprague Resources LP (NYSE:SRLP) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.60 and last traded at $20.25, with a volume of 278147 shares changing hands. The stock had previously closed at $23.70.

SRLP has been the topic of several recent analyst reports. ValuEngine raised shares of Sprague Resources from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. TheStreet downgraded shares of Sprague Resources from a “b” rating to a “c” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research raised shares of Sprague Resources from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.00.

The company has a market cap of $567.88 million, a PE ratio of 17.30 and a beta of 1.28.

Sprague Resources (NYSE:SRLP) last announced its earnings results on Wednesday, August 8th. The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.15). Sprague Resources had a net margin of 0.91% and a return on equity of 19.91%. The firm had revenue of $741.66 million for the quarter, compared to analyst estimates of $678.35 million. As a group, sell-side analysts forecast that Sprague Resources LP will post 3.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 13.66%. The ex-dividend date of this dividend is Monday, November 5th. Sprague Resources’s dividend payout ratio (DPR) is presently 236.28%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Securian Asset Management Inc increased its stake in shares of Sprague Resources by 18.3% in the second quarter. Securian Asset Management Inc now owns 71,118 shares of the oil and gas company’s stock worth $1,806,000 after acquiring an additional 11,000 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Sprague Resources in the second quarter worth $101,000. Jane Street Group LLC acquired a new position in shares of Sprague Resources in the second quarter worth $414,000. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Sprague Resources by 19.2% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 16,794 shares of the oil and gas company’s stock worth $427,000 after acquiring an additional 2,700 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Sprague Resources by 32.9% in the first quarter. UBS Group AG now owns 8,637 shares of the oil and gas company’s stock worth $206,000 after acquiring an additional 2,137 shares during the last quarter. 21.73% of the stock is currently owned by institutional investors and hedge funds.

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Sprague Resources Company Profile (NYSE:SRLP)

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.

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