Superior Plus Corp. Earns “Moderate Buy” from Analysts Amid Price Adjustments

Shares of Superior Plus Corp. (TSE:SPB) have received a consensus recommendation of “Moderate Buy” from eight analysts currently covering the company, according to Marketbeat Ratings. This rating reflects a mixture of perspectives, with two analysts suggesting a hold, five endorsing a buy, and one issuing a strong buy recommendation.

The average one-year price target established by these brokers stands at C$9.53. Several research reports have examined the stock recently, leading to adjustments in price targets. For instance, Desjardins revised its price objective from C$10.50 to C$9.75 while maintaining a buy rating in a report dated August 13, 2023. Similarly, Raymond James Financial lowered its target from C$10.50 to C$10.00 on August 14, 2023, assigning an outperform rating.

On the other hand, BMO Capital Markets increased its price target from C$8.00 to C$10.00 in a report published on October 10, 2023. TD Securities also raised its target from C$8.00 to C$9.00, but maintained a hold rating in a report released on October 9, 2023.

Dividend Announcement and Share Performance

In addition to analyst ratings, Superior Plus recently declared a quarterly dividend of $0.045 per share, which was distributed on October 15, 2023. Shareholders recorded as of October 15, 2023 received the dividend, with the ex-dividend date set for September 29, 2023. This results in an annualized dividend of $0.18 and a yield of 2.3%. The company’s payout ratio currently stands at 109.01%, indicating a significant commitment to returning value to shareholders.

On the trading front, shares of Superior Plus experienced a minor decline of 0.4%, reflecting the market’s reaction to the recent updates and analyst evaluations.

About Superior Plus Corp.

Superior Plus is a prominent North American distributor of propane, compressed natural gas, renewable energy, and related products and services. The company serves approximately 770,000 customer locations across the United States and Canada. Through its core operations in propane distribution and the distribution of CNG, RNG, and hydrogen, Superior Plus effectively delivers clean-burning fuels to residential, commercial, utility, agricultural, and industrial customers not connected to traditional pipeline systems.

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