Sprague Resources (SRLP) Releases Earnings Results, Misses Estimates By $0.70 EPS

Sprague Resources (NYSE:SRLP) posted its quarterly earnings data on Wednesday. The oil and gas company reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.70), Morningstar.com reports. Sprague Resources had a return on equity of 19.91% and a net margin of 0.91%. The business had revenue of $618.46 million for the quarter, compared to analyst estimates of $666.39 million.

Shares of Sprague Resources stock traded down $0.74 during trading hours on Thursday, reaching $18.81. 227,100 shares of the company’s stock were exchanged, compared to its average volume of 37,253. Sprague Resources has a fifty-two week low of $17.90 and a fifty-two week high of $29.00. The company has a market cap of $534.50 million, a price-to-earnings ratio of 16.65 and a beta of 1.28.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 14.19%. Sprague Resources’s dividend payout ratio is 236.28%.

A number of research firms have recently commented on SRLP. ValuEngine downgraded shares of Sprague Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday. TheStreet upgraded shares of Sprague Resources from a “c+” rating to a “b” rating in a research note on Tuesday, July 17th. Finally, Zacks Investment Research upgraded shares of Sprague Resources from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Sprague Resources currently has an average rating of “Hold” and an average price target of $28.00.

Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP acquired a new position in shares of Sprague Resources during the 3rd quarter worth about $7,172,000. Securian Asset Management Inc lifted its stake in Sprague Resources by 18.3% in the 2nd quarter. Securian Asset Management Inc now owns 71,118 shares of the oil and gas company’s stock valued at $1,806,000 after purchasing an additional 11,000 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Sprague Resources by 197.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 37,370 shares of the oil and gas company’s stock valued at $949,000 after purchasing an additional 24,791 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Sprague Resources by 19.2% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 16,794 shares of the oil and gas company’s stock valued at $427,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Sprague Resources in the 2nd quarter valued at about $414,000. Institutional investors own 21.73% of the company’s stock.

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Sprague Resources Company Profile

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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Earnings History for Sprague Resources (NYSE:SRLP)

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