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Sprague Resources LPNYSE:SRLP Rapport sur les actions

Capitalisation boursière US$524.8m
Prix de l'action
n/a
1Y9.2%
7D-1.9%
1D0.1%
Valeur du portefeuille
​
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Sprague Resources LP

NYSE:SRLP Rapport sur les actions

Capitalisation boursière : 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) Aperçu de l'action

As of May 28, 2021, operates as a subsidiary of Hartree Partners, LP. Plus de détails

SRLP analyse fondamentale
Score flocon de neige
Évaluation2/6
Croissance future0/6
Performances passées0/6
Santé financière0/6
Dividendes2/6

Analyse des risques

Les revenus ont diminué de 54.8% par an au cours des 5 dernières années

La dette n’est pas bien couverte par le flux de trésorerie opérationnel

Le dividende de 8.68% n'est pas bien couvert par les bénéfices ou les flux de trésorerie disponibles

SRLP a des capitaux propres négatifs.


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Sprague Resources LP Concurrents

Historique des prix et performances

Résumé des hausses, des baisses et des variations du cours de l'action pour la période du 1er janvier au 31 décembre 2009 Sprague Resources
Historique des cours de bourse
Prix actuel de l'actionUS$20.00
Plus haut sur 52 semainesUS$20.40
Plus bas sur 52 semainesUS$12.31
Bêta0.38
Variation sur 1 mois0.81%
Variation sur 3 mois3.60%
Variation sur 1 an9.17%
Variation sur 3 ans16.35%
Variation sur 5 ans-19.68%
Évolution depuis l'introduction en bourse12.68%

Nouvelles et mises à jour récentes

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.

Rendement pour les actionnaires

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

Rendement vs Industrie: SRLP a sous-performé le secteur US Oil and Gas qui a rapporté 32.5 % au cours de l'année écoulée.

Rendement vs marché: SRLP a dépassé le marché US qui a rapporté 14.7 % au cours de l'année écoulée.

Volatilité des prix

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%

Cours de l'action stable: SRLP n'a pas connu de volatilité de prix significative au cours des 3 derniers mois par rapport au marché US.

Volatilité au fil du temps: La volatilité hebdomadaire de SRLP ( 1% ) est restée stable au cours de l'année écoulée.

À propos de l'entreprise

FondéeSalariésPDGSite web
1870757Dave Glendonwww.spragueenergy.com

Sprague Resources LP Résumé des fondamentaux

Comment les bénéfices et les revenus de Sprague Resources se comparent-ils à sa capitalisation boursière ?
SRLP statistiques fondamentales
Capitalisation boursièreUS$524.76m
Bénéfices(TTM)-US$99.44m
Recettes(TTM)US$4.90b
0.1x
Ratio P/S
-5.3x
Ratio P/E

Le site SRLP est-il surévalué ?

Voir Juste valeur et analyse de l'évaluation

Bénéfices et recettes

Principales statistiques de rentabilité tirées du dernier rapport sur les bénéfices (TTM)
SRLP compte de résultat (TTM)
RecettesUS$4.90b
Coût des recettesUS$4.75b
Marge bruteUS$146.25m
Autres dépensesUS$245.69m
Les revenus-US$99.44m

Derniers bénéfices déclarés

Jun 30, 2022

Prochaine date de publication des résultats

Nov 08, 2022

Résultat par action (EPS)-3.79
Marge brute2.99%
Marge bénéficiaire nette-2.03%
Ratio dettes/capitaux propres-680.9%

Quelles ont été les performances à long terme de SRLP?

Voir les performances historiques et les comparaisons

Dividendes

8.7%
Rendement actuel des dividendes
-46%
Ratio de distribution

Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2022/11/01 22:12
Cours de l'action en fin de journée2022/10/31 00:00
Les revenus2022/06/30
Revenus annuels2021/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github ; nous proposons également des guides sur la façon d’utiliser nos rapports et des tutoriels sur YouTube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Sprague Resources LP est couverte par 5 analystes. de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

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