Sprague Resources (SRLP) Posts Earnings Results, Beats Estimates By $0.58 EPS

Sprague Resources (NYSE:SRLP) issued its quarterly earnings results on Thursday. The oil and gas company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.58, Morningstar.com reports. The business had revenue of $1.08 billion for 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 down $0.23 during mid-day trading on Friday, hitting $16.50. The stock had a trading volume of 56,675 shares, compared to its average volume of 47,220. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.85 and a quick ratio of 1.05. Sprague Resources has a twelve month low of $13.76 and a twelve month high of $28.00. The company has a market cap of $380.34 million, a price-to-earnings ratio of 14.60 and a beta of 1.55.

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 13th. Investors of record on Friday, February 8th were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 16.18%. The ex-dividend date was Thursday, February 7th. Sprague Resources’s payout ratio is 236.28%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRLP. First Trust Advisors LP acquired a new position in shares of Sprague Resources in the 3rd quarter valued at $7,172,000. Securian Asset Management Inc increased its position in shares of Sprague Resources by 29.4% in the 4th quarter. Securian Asset Management Inc now owns 62,443 shares of the oil and gas company’s stock valued at $905,000 after acquiring an additional 14,200 shares during the period. Barclays PLC increased its position in shares of Sprague Resources by 100.6% in the 4th quarter. Barclays PLC now owns 16,315 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 8,181 shares during the period. Cardan Capital Partners LLC acquired a new position in shares of Sprague Resources in the 3rd quarter valued at $213,000. Finally, Cohen & Steers Inc. increased its position in shares of Sprague Resources by 3.6% in the 3rd quarter. Cohen & Steers Inc. now owns 179,347 shares of the oil and gas company’s stock valued at $4,833,000 after acquiring an additional 6,280 shares during the period. 19.99% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on SRLP shares. Zacks Investment Research downgraded Sprague Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 22nd. ValuEngine raised Sprague Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.00.

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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.

Further Reading: Net Margin

Earnings History for Sprague Resources (NYSE:SRLP)

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