Sprague Resources LP (SRLP) Expected to Post Quarterly Sales of $1.14 Billion

Equities analysts expect Sprague Resources LP (NYSE:SRLP) to post $1.14 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Sprague Resources’ earnings, with the lowest sales estimate coming in at $1.13 billion and the highest estimate coming in at $1.16 billion. Sprague Resources posted sales of $932.17 million during the same quarter last year, which suggests a positive year over year growth rate of 22.3%. The firm is scheduled to announce its next earnings report on Wednesday, March 13th.

On average, analysts expect that Sprague Resources will report full year sales of $3.84 billion for the current year, with estimates ranging from $3.82 billion to $3.85 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.06 billion, with estimates ranging from $3.68 billion to $4.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Sprague Resources.

Sprague Resources (NYSE:SRLP) last announced its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.70). Sprague Resources had a net margin of 0.73% and a return on equity of 17.62%. The company had revenue of $618.46 million for the quarter, compared to analyst estimates of $666.39 million.

SRLP has been the topic of several analyst reports. TheStreet downgraded Sprague Resources from a “b” rating to a “c” rating in a report on Thursday, October 11th. ValuEngine upgraded Sprague Resources from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Finally, Zacks Investment Research upgraded Sprague Resources from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.00.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cardan Capital Partners LLC bought a new stake in shares of Sprague Resources in the third quarter valued at approximately $213,000. First Trust Advisors LP bought a new stake in shares of Sprague Resources in the third quarter valued at approximately $7,172,000. Jane Street Group LLC bought a new stake in shares of Sprague Resources in the second quarter valued at approximately $414,000. Tower Research Capital LLC TRC bought a new stake in shares of Sprague Resources in the second quarter valued at approximately $101,000. Finally, First Republic Investment Management Inc. boosted its position in shares of Sprague Resources by 197.1% in the second quarter. First Republic Investment Management Inc. now owns 37,370 shares of the oil and gas company’s stock valued at $949,000 after acquiring an additional 24,791 shares during the period. 21.25% of the stock is owned by institutional investors.

SRLP stock traded down $0.64 during midday trading on Tuesday, hitting $17.11. 59,503 shares of the company traded hands, compared to its average volume of 37,572. Sprague Resources has a twelve month low of $17.01 and a twelve month high of $29.00. 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 has a market cap of $405.12 million, a PE ratio of 15.14 and a beta of 1.25.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th were given a $0.6675 dividend. The ex-dividend date was Monday, November 5th. This represents a $2.67 annualized dividend and a dividend yield of 15.60%. Sprague Resources’s dividend payout ratio is 236.28%.

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.

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