Sprague Resources LP (NYSE:SRLP) declared a quarterly dividend on Friday, July 24th, Zacks reports. Investors of record on Tuesday, August 4th will be given a dividend of 0.668 per share by the oil and gas company on Monday, August 10th. This represents a $2.67 annualized dividend and a yield of 14.52%. The ex-dividend date of this dividend is Monday, August 3rd.

Sprague Resources has increased its dividend by an average of 23.6% annually over the last three years and has raised its dividend every year for the last 5 years. Sprague Resources has a dividend payout ratio of 147.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Sprague Resources to earn $1.44 per share next year, which means the company may not be able to cover its $2.67 annual dividend with an expected future payout ratio of 185.4%.

NYSE SRLP opened at $18.40 on Friday. The company has a market capitalization of $422.47 million, a PE ratio of 11.15 and a beta of 1.25. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.82 and a current ratio of 0.98. The business’s fifty day moving average is $15.70 and its 200 day moving average is $14.51. Sprague Resources has a fifty-two week low of $9.83 and a fifty-two week high of $19.10.

Sprague Resources (NYSE:SRLP) last released its earnings results on Thursday, May 7th. The oil and gas company reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.80. The company had revenue of $959.88 million for the quarter, compared to the consensus estimate of $1.09 billion. Sprague Resources had a return on equity of 39.05% and a net margin of 1.31%. On average, sell-side analysts forecast that Sprague Resources will post 1.94 EPS for the current year.

A number of equities research analysts have commented on SRLP shares. Zacks Investment Research raised Sprague Resources from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Friday, July 24th. ValuEngine cut Sprague Resources from a “hold” rating to a “sell” rating in a report on Friday, May 8th.

In other news, Director Sprague Resources Holdings Llc bought 723,738 shares of Sprague Resources stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $13.85 per share, with a total value of $10,023,771.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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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Dividend History for Sprague Resources (NYSE:SRLP)

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