Zacks Investment Research cut shares of Sprague Resources (NYSE:SRLP) from a buy rating to a hold rating in a research note released on Saturday, Zacks.com reports.

According to Zacks, “Sprague Resources LP operates as suppliers of energy and materials handling services. The Company stores, distributes, and sells refined petroleum products and natural gas. Its products include home heating oil, diesel fuels, residual fuels, gasoline and natural gas. Sprague Resources LP is based in Portsmouth, New Hampshire. “

Other equities research analysts have also issued research reports about the company. ValuEngine lowered Sprague Resources from a hold rating to a sell rating in a research note on Friday, June 7th. Raymond James lowered Sprague Resources from an outperform rating to a market perform rating in a research note on Tuesday, April 16th. They noted that the move was a valuation call.

Shares of NYSE SRLP opened at $16.60 on Friday. The stock has a market capitalization of $386.41 million, a PE ratio of 5.25 and a beta of 1.46. Sprague Resources has a fifty-two week low of $13.76 and a fifty-two week high of $28.00. The company has a debt-to-equity ratio of 4.50, a quick ratio of 1.37 and a current ratio of 2.03. The company has a fifty day moving average of $18.03.

Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.14. The company had revenue of $662.02 million during the quarter, compared to analyst estimates of $656.16 million. Sprague Resources had a return on equity of 32.23% and a net margin of 1.19%. Analysts predict that Sprague Resources will post 1.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were paid a dividend of $0.668 per share. This is a positive change from Sprague Resources’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, August 2nd. This represents a $2.67 annualized dividend and a yield of 16.10%. Sprague Resources’s dividend payout ratio (DPR) is currently 84.49%.

A number of large investors have recently bought and sold shares of SRLP. Advisor Group Inc. bought a new stake in Sprague Resources during the second quarter valued at $33,000. Optimum Investment Advisors lifted its stake in Sprague Resources by 33.3% during the second quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 1,000 shares during the last quarter. Advantage Investment Management LLC bought a new stake in Sprague Resources during the second quarter worth about $267,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Sprague Resources by 4.0% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 15,494 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 600 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Sprague Resources by 8.6% during the second quarter. Russell Investments Group Ltd. now owns 27,690 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 2,190 shares during the last quarter. 17.37% of the stock is owned by institutional investors.

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.

Read More: What is Compound Annual Growth Rate (CAGR)?

Get a free copy of the Zacks research report on Sprague Resources (SRLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sprague Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprague Resources and related companies with MarketBeat.com's FREE daily email newsletter.