Sprague Resources LP (NYSE:SRLP)‘s stock had its “buy” rating reaffirmed by FBR & Co in a research note issued on Tuesday. They currently have a $35.00 price objective on the stock. FBR & Co’s price objective suggests a potential upside of 45.53% from the company’s current price.

The analysts wrote, “Sprague Resources Receives a Buy from FBR Capital | Analyst Ratings

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Home » Sprague Resources Receives a Buy from FBR Capital”

Other analysts have also issued reports about the company. TheStreet raised Sprague Resources from a “hold” rating to a “buy” rating in a report on Tuesday, October 25th. Zacks Investment Research raised Sprague Resources from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.50.

Sprague Resources (NYSE:SRLP) opened at 24.05 on Tuesday. The stock’s 50 day moving average price is $24.12 and its 200-day moving average price is $24.07. The company has a market cap of $512.34 million, a price-to-earnings ratio of 9.15 and a beta of 1.51. Sprague Resources has a 52 week low of $15.55 and a 52 week high of $25.80.

Sprague Resources (NYSE:SRLP) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.42. The company had revenue of $422.80 million for the quarter, compared to the consensus estimate of $653.20 million. Sprague Resources had a return on equity of 24.98% and a net margin of 1.71%. On average, equities research analysts forecast that Sprague Resources will post $1.60 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Tuesday, November 8th were given a dividend of $0.5625 per share. The ex-dividend date was Friday, November 4th. This represents a $2.25 annualized dividend and a dividend yield of 9.36%. This is an increase from Sprague Resources’s previous quarterly dividend of $0.55. Sprague Resources’s dividend payout ratio is currently 126.40%.

In other Sprague Resources news, insider Paul A. Scoff sold 1,250 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $24.43, for a total transaction of $30,537.50. Following the sale, the insider now owns 20,155 shares in the company, valued at $492,386.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its position in Sprague Resources by 586,297.1% in the second quarter. Citigroup Inc. now owns 205,239 shares of the company’s stock worth $4,950,000 after buying an additional 205,204 shares in the last quarter. Acadian Asset Management LLC raised its stake in Sprague Resources by 33.9% in the second quarter. Acadian Asset Management LLC now owns 192,836 shares of the company’s stock worth $4,649,000 after buying an additional 48,824 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Sprague Resources by 113.4% in the second quarter. Janney Montgomery Scott LLC now owns 137,180 shares of the company’s stock worth $3,308,000 after buying an additional 72,898 shares in the last quarter. Advantus Capital Management Inc raised its stake in Sprague Resources by 4.4% in the third quarter. Advantus Capital Management Inc now owns 47,281 shares of the company’s stock worth $1,120,000 after buying an additional 1,980 shares in the last quarter. Finally, QVT Financial LP purchased a new stake in Sprague Resources during the second quarter worth $964,000. 52.63% of the stock is currently owned by institutional investors and hedge funds.

Sprague Resources Company Profile

Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a range of materials. The Company operates through four segments: refined products, natural gas, materials handling and other operations.

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