Sprague Resources (NYSE:SRLP) Releases Earnings Results, Beats Expectations By $0.14 EPS

Sprague Resources (NYSE:SRLP) posted its quarterly earnings results on Wednesday. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.14, Morningstar.com reports. Sprague Resources had a net margin of 1.19% and a return on equity of 31.42%. The company had revenue of $662.02 million during the quarter, compared to the consensus estimate of $656.16 million.

Shares of Sprague Resources stock traded down $0.03 during trading on Friday, hitting $17.31. 79,402 shares of the company were exchanged, compared to its average volume of 45,257. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.64 and a quick ratio of 1.04. Sprague Resources has a fifty-two week low of $13.76 and a fifty-two week high of $28.00. The stock has a market cap of $392.84 million, a PE ratio of 5.48 and a beta of 1.46. The stock has a 50 day moving average of $18.12.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, August 5th will be given a dividend of $0.668 per share. This is an increase from Sprague Resources’s previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a dividend yield of 15.44%. The ex-dividend date is Friday, August 2nd. Sprague Resources’s payout ratio is currently 84.49%.

Institutional investors have recently modified their holdings of the stock. Raymond James & Associates increased its stake in Sprague Resources by 10.3% during the 4th quarter. Raymond James & Associates now owns 29,886 shares of the oil and gas company’s stock worth $433,000 after buying an additional 2,792 shares in the last quarter. Securian Asset Management Inc grew its position in shares of Sprague Resources by 3.4% in the first quarter. Securian Asset Management Inc now owns 64,543 shares of the oil and gas company’s stock valued at $1,193,000 after purchasing an additional 2,100 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Sprague Resources by 4.0% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 15,494 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 600 shares in the last quarter. Optimum Investment Advisors grew its position in shares of Sprague Resources by 33.3% in the second quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Advantage Investment Management LLC purchased a new stake in shares of Sprague Resources in the second quarter valued at approximately $267,000. Hedge funds and other institutional investors own 17.35% of the company’s stock.

A number of equities research analysts have recently issued reports on SRLP shares. ValuEngine downgraded shares of Sprague Resources from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Raymond James downgraded shares of Sprague Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 16th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Sprague Resources from a “buy” rating to a “hold” rating in a research report on Saturday.

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: 52-Week High/Low

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.