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Sprague Resources LPInforme acción NYSE:SRLP

Capitalización bursátil US$524.8m
Precio de las acciones
n/a
1Y9.2%
7D-1.9%
1D0.1%
Valor de la cartera
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Sprague Resources LP

Informe acción NYSE:SRLP

Capitalización de mercado: US$524.8m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Sprague Resources (SRLP) Resumen de Acciones

As of May 28, 2021, operates as a subsidiary of Hartree Partners, LP. Saber más

Análisis fundamental de SRLP
Puntuación del snowflake
Valoración2/6
Crecimiento futuro0/6
Rendimiento pasado0/6
Salud financiera0/6
Dividendos2/6

Análisis de riesgos

Los beneficios han disminuido un 54.8% al año en los últimos 5 años

La deuda no está bien cubierta por el flujo de caja operativo

El dividendo de 8.68% no está bien cubierto por las ganancias o los flujos de caja libres

SRLP tiene patrimonio neto negativo.


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Competidores de Sprague Resources LP

Historial de precios y rendimiento

Resumen de las cotizaciones máximas, mínimas y variaciones del Sprague Resources
Precios históricos de las acciones
Precio actual de la acciónUS$20.00
Máximo en las últimas 52 semanasUS$20.40
Mínimo de 52 semanasUS$12.31
Beta0.38
Cambio en 1 mes0.81%
Variación en 3 meses3.60%
Cambio de 1 año9.17%
Variación en 3 años16.35%
Variación en 5 años-19.68%
Variación desde la OPV12.68%

Noticias y actualizaciones recientes

Seeking Alpha • Oct 17

Sprague Resources declares $0.4338 dividend

Sprague Resources (NYSE:SRLP) declares $0.4338/share quarterly dividend, in line with previous. Forward yield 8.75% Payable Oct. 31; for shareholders of record Oct. 27; ex-div Oct. 26. See SRLP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jul 25

Sprague Resources declares $0.4338 dividend

Sprague Resources (NYSE:SRLP) declares $0.4338/share quarterly dividend, in line with previous. Forward yield 9.07% Payable Aug. 10; for shareholders of record Aug. 5; ex-div Aug. 4. See SRLP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • May 12

Sprague Resources: The Worst Is Still Coming

On the surface, it appears that Sprague Resources saw a strong start to 2022, with their adjusted EBITDA for the first quarter seeing a very impressive 45% increase year-on-year. Although when digging deeper, this is not the case, with these results being materially boosted by unrealized gains that provided no tangible benefits. They also saw a relatively large working capital draw that helped ease the pressure upon their very weak liquidity and strained credit facility, but obviously, this is merely temporary. Given the normal seasonality in their financial performance and the downbeat outlook for the remainder of 2022 from management, it seems that a cash burn is very likely. Following this grim outlook, it should not be surprising that I continue believing that my sell rating is appropriate.

Recent updates

Seeking Alpha • Oct 17

Sprague Resources declares $0.4338 dividend

Sprague Resources (NYSE:SRLP) declares $0.4338/share quarterly dividend, in line with previous. Forward yield 8.75% Payable Oct. 31; for shareholders of record Oct. 27; ex-div Oct. 26. See SRLP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jul 25

Sprague Resources declares $0.4338 dividend

Sprague Resources (NYSE:SRLP) declares $0.4338/share quarterly dividend, in line with previous. Forward yield 9.07% Payable Aug. 10; for shareholders of record Aug. 5; ex-div Aug. 4. See SRLP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • May 12

Sprague Resources: The Worst Is Still Coming

On the surface, it appears that Sprague Resources saw a strong start to 2022, with their adjusted EBITDA for the first quarter seeing a very impressive 45% increase year-on-year. Although when digging deeper, this is not the case, with these results being materially boosted by unrealized gains that provided no tangible benefits. They also saw a relatively large working capital draw that helped ease the pressure upon their very weak liquidity and strained credit facility, but obviously, this is merely temporary. Given the normal seasonality in their financial performance and the downbeat outlook for the remainder of 2022 from management, it seems that a cash burn is very likely. Following this grim outlook, it should not be surprising that I continue believing that my sell rating is appropriate.
Seeking Alpha • Mar 07

Sprague Resources: Liquidity Crisis Amplifying With A Terrible First Quarter Inbound, Time To Sell

Despite economic conditions improving, Sprague Resources was facing a liquidity crisis in late 2021. Whilst they saw a slight reprieve during the fourth quarter of 2021, they still saw negative operating cash flow during the full year. The market has moved back into a deep backwardation structure that threatens to see the cash burn continue into the first quarter of 2022. The balance available on their working capital credit facility is running low and thus without future lender support, they may even face issues remaining a going concern throughout 2022. The potential takeover seems to be anchoring their unit price but since this may not proceed, I believe that downgrading to a sell rating is now appropriate.
Seeking Alpha • Jan 02

Sprague Resources: Impending Liquidity Crisis, Distributions Could Be Suspended

The beaten-down Sprague Resources reduced their distributions by 35% in 2021 but the bigger issue right now is their impending liquidity crisis. Due to the oil and refined products markets being in a backwardation structure, it has seen their underlying operating cash flow turning deep into the negative. Their surface-level results were propped up by a massive working capital draw that stands to drain most of their working capital credit facility when it reverses. Since they have virtually no cash, unless their operating conditions improve significantly and quickly, this would lead to a liquidity crisis and likely see their distributions suspended. This is a very risky situation, but given their depressed unit price, it could rally if operating conditions improve, and thus, I still believe that my neutral rating is appropriate.
Seeking Alpha • Nov 30

Sprague Resources: 12.1% Yield But Risks Abound

Sprague Resources cut its distribution recently. The company reported its third quarter results that came in below expectations. We go over the current problems the company is facing and how it impacts the sustainability of the distribution.
Seeking Alpha • Oct 26

Sprague Resources: Distribution Cut Less Than Expected

Sprague Resources cut its distribution by 35%. This was below the low end of our estimated range. We go over what likely influenced this decision and what investors should be on the lookout for in the next 2 quarters.
Seeking Alpha • Oct 20

Double-Digit Dividends: 12.46%-Yielding Sprague Resources Looks Expensive

I’ve launched a new series focused on long and short opportunities in the double-digit dividend yield market and this is my sixth bearish idea. Sprague Resources plans to cut its quarterly distribution to fund growth capital projects and strengthen its balance sheet. The partnership’s forward EV/EBITDA multiple is between 9.9x and 11.3x and Hartree paid only $16.50 per unit in May. I think the unit price could be headed to $16.50 once the quarterly distribution gets cut.
Seeking Alpha • Aug 06

Sprague Resources: Distributions Cut As Warned, Brace For A Near Wipeout

Sprague Resources has announced that an impending distribution reduction, which I have been consistently warning, was a very real risk. They intend to transition to a more sustainable financial model that focuses on internally generated cash flow to pursue new growth investments. This will obviously push down their free cash flow significantly, which I estimate will entail at least a 50% reduction to their distributions. A significant issue pushing their hand is actually the financial distress caused by their credit facility borrowing base being repeatedly reduced and thus threatening their solvency. This could easily see a near wipeout for their distributions, and thus, until more is known, I believe that maintaining my neutral rating is appropriate.

Rentabilidad de los accionistas

SRLPUS Oil and GasMercado US
7D-1.9%3.3%-1.0%
1Y9.2%32.5%14.7%

Rentabilidad vs. Industria: Los resultados de SRLP fueron inferiores a los de la industria US Oil and Gas, que obtuvo un rendimiento del 32.5% el año pasado.

Rentabilidad vs. Mercado: SRLP superó al mercado US, que obtuvo un rendimiento del 14.7% el año pasado.

Volatilidad de los precios

Is SRLP's price volatile compared to industry and market?
SRLP volatility
SRLP Average Weekly Movement1.4%
Oil and Gas Industry Average Movement6.0%
Market Average Movement7.1%
10% most volatile stocks in US Market16.0%
10% least volatile stocks in US Market3.2%

Precio estable de las acciones: SRLP no ha tenido una volatilidad de precios significativa en los últimos 3 meses en comparación con el mercado US.

Volatilidad a lo largo del tiempo: La volatilidad semanal de SRLP (1%) se ha mantenido estable durante el año pasado.

Acerca de la empresa

FundadaEmpleadosCEOPágina web
1870757Dave Glendonwww.spragueenergy.com

Resumen de fundamentos de Sprague Resources LP

¿Cómo se comparan los beneficios e ingresos de Sprague Resources con su capitalización de mercado?
Estadísticas fundamentales de SRLP
Capitalización bursátilUS$524.76m
Beneficios(TTM)-US$99.44m
Ingresos (TTM)US$4.90b
0.1x
Ratio precio-ventas (PS)
-5.3x
Ratio precio-beneficio (PE)

¿Está SRLP sobrevalorada?

Ver valor justo y análisis de valoración

Beneficios e Ingresos

Estadísticas clave de rentabilidad del último informe de resultados (TTM)
Cuenta de resultados (TTM) de SRLP
IngresosUS$4.90b
Coste de los ingresosUS$4.75b
Beneficio brutoUS$146.25m
Otros gastosUS$245.69m
Beneficios-US$99.44m

Últimos beneficios comunicados

Jun 30, 2022

Próxima fecha de beneficios

Nov 08, 2022

Beneficios por acción (BPA)-3.79
Margen bruto2.99%
Margen de beneficio neto-2.03%
Ratio deuda/patrimonio-680.9%

¿Cómo se ha desempeñado SRLP a largo plazo?

Ver rendimiento histórico y comparativa

Dividendos

8.7%
Rentabilidad actual por dividendo
-46%
Ratio de pagos

Análisis de la empresa y estado de los datos financieros

DatosÚltima actualización (huso horario UTC)
Análisis de la empresa2022/11/01 00:51
Precio de las acciones al final del día2022/10/31 00:00
Beneficios2022/06/30
Ingresos anuales2021/12/31

Fuentes de datos

Los datos utilizados en nuestro análisis de empresas proceden de S&P Global Market Intelligence LLC. Los siguientes datos se utilizan en nuestro modelo de análisis para generar este informe. Los datos están normalizados, lo que puede introducir un retraso desde que la fuente está disponible.

PaqueteDatosMarco temporalEjemplo Fuente EE.UU. *
Finanzas de la empresa10 años
  • Cuenta de resultados
  • Estado de tesorería
  • Balance
Estimaciones del consenso de analistas+3 años
  • Previsiones financieras
  • Objetivos de precios de los analistas
Precios de mercado30 años
  • Precios de las acciones
  • Dividendos, escisiones y acciones
Propiedad10 años
  • Accionistas principales
  • Información privilegiada
Gestión10 años
  • Equipo directivo
  • Consejo de Administración
Principales avances10 años
  • Anuncios de empresas

* Ejemplo para valores de EE.UU., para no EE.UU. se utilizan formularios y fuentes normativas equivalentes.

A menos que se especifique lo contrario, todos los datos financieros se basan en un periodo anual, pero se actualizan trimestralmente. Esto se conoce como datos de los últimos doce meses (TTM) o de los últimos doce meses (LTM). Más información.

Modelo de análisis y copo de nieve

Los detalles del modelo de análisis utilizado para generar este informe están disponibles en nuestra página de Github, también tenemos guías sobre cómo utilizar nuestros informes y tutoriales en Youtube.

Conozca al equipo de talla mundial que diseñó y construyó el modelo de análisis Simply Wall St.

Métricas industriales y sectoriales

Simply Wall St calcula cada 6 horas nuestras métricas sectoriales y de sección. Los detalles de nuestro proceso están disponibles en Github.

Fuentes analistas

Sprague Resources LP está cubierta por 5 analistas. de esos analistas presentaron las estimaciones de ingresos o ganancias utilizadas como datos para nuestro informe. Las estimaciones de los analistas se actualizan a lo largo del día.

AnalistaInstitución
Brian ZarahnBarclays
Michael GyureBrean Capital Historical (Janney Montgomery)
Robert BalsamoB. Riley Securities, Inc.