Sprague Resources LP (NYSE:SRLP) declared a quarterly dividend on Friday, July 24th, Zacks reports. Shareholders of record on Tuesday, August 4th will be paid 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 is Monday, August 3rd.

Sprague Resources has raised its dividend by an average of 23.6% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Sprague Resources has a payout ratio of 147.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.

Shares of SRLP stock opened at $18.40 on Friday. The stock has a market capitalization of $422.47 million, a P/E ratio of 11.15 and a beta of 1.25. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 3.06. Sprague Resources has a 12-month low of $9.83 and a 12-month high of $19.10. The firm’s 50 day moving average is $15.70 and its 200 day moving average is $14.51.

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

SRLP has been the topic of a number of recent analyst reports. ValuEngine cut shares of Sprague Resources from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Zacks Investment Research raised Sprague Resources from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Friday, July 24th.

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

Sprague Resources Company Profile

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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