November 16, 2016 - By kentuckypostne · 0 Comments
Sprague Resources LP (NYSE:SRLP) institutional sentiment increased to 1.45 in 2016 Q2. Its up 0.18, from 1.27 in 2016Q1. The ratio improved, as 16 investment managers opened new and increased equity positions, while 11 reduced and sold their stakes in Sprague Resources LP. The investment managers in our partner’s database now own: 5.67 million shares, down from 6.14 million shares in 2016Q1. Also, the number of investment managers holding Sprague Resources LP in their top 10 equity positions was flat from 0 to 0 for the same number . Sold All: 1 Reduced: 10 Increased: 8 New Position: 8.
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 has a market cap of $531.99 million. The Firm operates through four divisions: refined products, natural gas, materials handling and other operations. It has a 13.59 P/E ratio. The Company’s refined products segment 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, and sells them to its customers.
About 817 shares traded hands. Sprague Resources LP (NYSE:SRLP) has risen 18.44% since April 14, 2016 and is uptrending. It has outperformed by 13.75% the S&P500.
According to Zacks Investment Research, “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.”
Doheny Asset Management Ca holds 0.87% of its portfolio in Sprague Resources LP for 72,150 shares. Spirit Of America Management Corp Ny owns 217,863 shares or 0.77% of their US portfolio. Moreover, Kayne Anderson Capital Advisors Lp has 0.25% invested in the company for 931,689 shares. The United Kingdom-based Gsa Capital Partners Llp has invested 0.11% in the stock. Qvt Financial Lp, a New York-based fund reported 39,979 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 1 sale for $30,538 net activity.
Ratings analysis reveals 67% of Sprague Resources’s analysts are positive. Out of 3 Wall Street analysts rating Sprague Resources, 2 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $26 while the high is $35. The stock’s average target of $30.50 is 23.73% above today’s ($24.65) share price. SRLP was included in 4 notes of analysts from August 10, 2015. FBR Capital initiated Sprague Resources LP (NYSE:SRLP) on Friday, September 9 with “Outperform” rating. As per Monday, January 4, the company rating was upgraded by Raymond James.
Sprague Resources LP, incorporated on June 23, 2011, 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 Firm operates through four divisions: refined products, natural gas, materials handling and other operations. The Company’s refined products segment 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, and sells them to its customers. The Company’s natural gas segment purchases, sells and distributes natural gas to commercial and industrial clients in the Northeast and Mid-Atlantic United States. The Company’s materials handling segment offloads, stores and prepares for delivery a range of customer-owned products, including asphalt, clay slurry, salt, gypsum, crude oil, coal, petroleum coke, caustic soda, tallow, pulp and heavy equipment. The Company’s other activities segment includes sale of coal and commercial trucking activity.
More notable recent Sprague Resources LP (NYSE:SRLP) news were published by: Globenewswire.com which released: “Sprague Resources LP to Acquire Natural Gas Marketing Business” on January 19, 2016, also Nasdaq.com with their article: “Sprague Resources LP Reports Third Quarter 2016 Results” published on November 07, 2016, Reuters.com published: “BRIEF-Sprague Resources LP announces tenth consecutive increased cash dist…” on October 28, 2016. More interesting news about Sprague Resources LP (NYSE:SRLP) were released by: Prnewswire.com and their article: “Sprague Resources LP Completes Purchase Of Kildair Service Ltd.” published on December 09, 2014 as well as Globenewswire.com‘s news article titled: “Sprague Resources LP Reports Second Quarter 2016 Results and Extends Guidance …” with publication date: August 05, 2016.
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