Analysts forecast that Sprague Resources LP (NYSE:SRLP) will announce sales of $917.26 million for the current quarter, according to Zacks. Two analysts have made estimates for Sprague Resources’ earnings, with estimates ranging from $895.05 million to $939.48 million. Sprague Resources posted sales of $766.83 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.6%. The company is expected to issue its next earnings report on Friday, March 9th.
According to Zacks, analysts expect that Sprague Resources will report full-year sales of $917.26 million for the current fiscal year, with estimates ranging from $2.82 billion to $2.86 billion. For the next year, analysts forecast that the business will post sales of $3.28 billion per share, with estimates ranging from $2.94 billion to $3.61 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Sprague Resources.
A number of brokerages have commented on SRLP. ValuEngine lowered shares of Sprague Resources from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Sprague Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. Finally, B. Riley set a $29.00 price objective on shares of Sprague Resources and gave the stock a “buy” rating in a report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.67.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Tuesday, February 6th were issued a $0.6375 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $2.55 dividend on an annualized basis and a yield of 10.45%. This is a positive change from Sprague Resources’s previous quarterly dividend of $0.62. Sprague Resources’s payout ratio is currently 142.46%.
A number of hedge funds have recently modified their holdings of SRLP. Advantus Capital Management Inc lifted its holdings in Sprague Resources by 41.2% in the 3rd quarter. Advantus Capital Management Inc now owns 62,340 shares of the oil and gas company’s stock worth $1,534,000 after buying an additional 18,200 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Sprague Resources by 1.8% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 826,554 shares of the oil and gas company’s stock worth $20,332,000 after buying an additional 15,000 shares in the last quarter. Taylor Wealth Management Partners lifted its holdings in Sprague Resources by 249.5% in the 4th quarter. Taylor Wealth Management Partners now owns 13,490 shares of the oil and gas company’s stock worth $326,000 after buying an additional 9,630 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Sprague Resources in the 2nd quarter worth $265,000. Finally, Virtu KCG Holdings LLC acquired a new position in Sprague Resources in the 2nd quarter worth $255,000. Hedge funds and other institutional investors own 22.14% of the company’s stock.
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About Sprague Resources
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, which purchases a range of refined products, such as heating oil, diesel fuel, residual fuel oil, asphalt, kerosene, jet fuel and gasoline from refining companies, trading organizations and producers; natural gas, which purchases natural gas from natural gas producers and trading companies, and sells and distributes natural gas to commercial and industrial customers in the Northeast and Mid-Atlantic United States; materials handling, which offloads, stores and prepares for delivery a range of customer-owned products, including asphalt, clay slurry, coal and heavy equipment, and other operations, which include the purchase and distribution of coal, certain commercial trucking activities and the heating equipment service business.
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