Sprague Resources (SRLP) Releases Quarterly Earnings Results, Beats Expectations By $0.58 EPS

Share on StockTwits

Sprague Resources (NYSE:SRLP) released its quarterly earnings data on Thursday. The oil and gas company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.58, Morningstar.com reports. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.13 billion. Sprague Resources had a return on equity of 17.62% and a net margin of 0.73%.

Shares of NYSE SRLP traded up $0.27 during midday trading on Friday, hitting $17.00. 2,500 shares of the stock traded hands, compared to its average volume of 47,220. The company has a market cap of $380.34 million, a price-to-earnings ratio of 15.04 and a beta of 1.55. Sprague Resources has a one year low of $13.76 and a one year high of $28.00. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 4.62.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 13th. Stockholders of record on Friday, February 8th were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, February 7th. This represents a $2.67 annualized dividend and a dividend yield of 15.71%. Sprague Resources’s dividend payout ratio is 236.28%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Sprague Resources by 100.6% during the fourth quarter. Barclays PLC now owns 16,315 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 8,181 shares during the last quarter. Tortoise Index Solutions LLC boosted its position in Sprague Resources by 101.7% in the fourth quarter. Tortoise Index Solutions LLC now owns 3,441 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 1,735 shares during the last quarter. Raymond James & Associates boosted its position in Sprague Resources by 10.3% in the fourth quarter. Raymond James & Associates now owns 29,886 shares of the oil and gas company’s stock worth $433,000 after purchasing an additional 2,792 shares during the last quarter. First Trust Advisors LP boosted its position in Sprague Resources by 14.3% in the fourth quarter. First Trust Advisors LP now owns 304,197 shares of the oil and gas company’s stock worth $4,408,000 after purchasing an additional 38,079 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Sprague Resources by 29.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 14,894 shares of the oil and gas company’s stock worth $216,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 19.99% of the company’s stock.

Several research firms have recently commented on SRLP. Zacks Investment Research upgraded Sprague Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine upgraded Sprague Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, February 2nd. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.00.

COPYRIGHT VIOLATION NOTICE: “Sprague Resources (SRLP) Releases Quarterly Earnings Results, Beats Expectations By $0.58 EPS” was reported by Week Herald and is owned by of Week Herald. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://weekherald.com/2019/03/15/sprague-resources-srlp-releases-quarterly-earnings-results-beats-expectations-by-0-58-eps.html.

About Sprague Resources

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.

Recommended Story: Derivative

Earnings History for Sprague Resources (NYSE:SRLP)

Receive News & Ratings for Sprague Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprague Resources and related companies with MarketBeat.com's FREE daily email newsletter.