Sprague Resources LP (NYSE:SRLP) Director Ben J. Hennelly sold 2,456 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $26.94, for a total value of $66,164.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Sprague Resources LP (NYSE:SRLP) traded up 0.37% during midday trading on Wednesday, hitting $27.20. The stock had a trading volume of 27,378 shares. The stock has a market cap of $582.38 million, a PE ratio of 69.92 and a beta of 1.45. Sprague Resources LP has a 12 month low of $22.50 and a 12 month high of $30.35. The stock’s 50-day moving average is $26.52 and its 200-day moving average is $26.33.

Sprague Resources (NYSE:SRLP) last posted its quarterly earnings results on Monday, May 8th. The oil and gas company reported $2.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $1.55. Sprague Resources had a return on equity of 24.98% and a net margin of 1.71%. The firm had revenue of $917.81 million during the quarter, compared to analysts’ expectations of $791.49 million. Equities analysts anticipate that Sprague Resources LP will post $3.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 8th were paid a $0.5925 dividend. The ex-dividend date was Thursday, May 4th. This represents a $2.37 annualized dividend and a dividend yield of 8.71%. This is a boost from Sprague Resources’s previous quarterly dividend of $0.46. Sprague Resources’s payout ratio is currently 129.78%.

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Several hedge funds and other institutional investors have recently bought and sold shares of SRLP. Van ECK Associates Corp acquired a new position in Sprague Resources during the first quarter valued at $2,957,000. Advantus Capital Management Inc boosted its position in Sprague Resources by 46.1% in the first quarter. Advantus Capital Management Inc now owns 39,301 shares of the oil and gas company’s stock valued at $1,065,000 after buying an additional 12,400 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in Sprague Resources during the first quarter valued at $245,000. UBS Group AG boosted its position in Sprague Resources by 79.3% in the first quarter. UBS Group AG now owns 19,273 shares of the oil and gas company’s stock valued at $522,000 after buying an additional 8,523 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Sprague Resources by 23.5% in the fourth quarter. Renaissance Technologies LLC now owns 43,964 shares of the oil and gas company’s stock valued at $1,235,000 after buying an additional 8,364 shares in the last quarter. Hedge funds and other institutional investors own 52.61% of the company’s stock.

SRLP has been the subject of a number of analyst reports. Zacks Investment Research lowered Sprague Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 16th. Janney Montgomery Scott raised Sprague Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $31.00 in a research report on Monday, March 20th. Finally, FBR & Co set a $35.00 price target on Sprague Resources and gave the company a “buy” rating in a research report on Thursday, March 16th.

About Sprague Resources

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