Spirit of America Management Corp NY Trims Stake in Sprague Resources LP (SRLP)

Spirit of America Management Corp NY trimmed its position in shares of Sprague Resources LP (NYSE:SRLP) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,582 shares of the oil and gas company’s stock after selling 19,200 shares during the quarter. Spirit of America Management Corp NY owned approximately 0.86% of Sprague Resources worth $3,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SRLP. First Trust Advisors LP lifted its holdings in shares of Sprague Resources by 14.3% during the 4th quarter. First Trust Advisors LP now owns 304,197 shares of the oil and gas company’s stock valued at $4,408,000 after buying an additional 38,079 shares during the last quarter. Securian Asset Management Inc lifted its holdings in shares of Sprague Resources by 29.4% during the 4th quarter. Securian Asset Management Inc now owns 62,443 shares of the oil and gas company’s stock valued at $905,000 after buying an additional 14,200 shares during the last quarter. Barclays PLC lifted its holdings in shares of Sprague Resources by 100.6% during the 4th quarter. Barclays PLC now owns 16,315 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 8,181 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Sprague Resources by 3.6% during the 3rd quarter. Cohen & Steers Inc. now owns 179,347 shares of the oil and gas company’s stock valued at $4,833,000 after buying an additional 6,280 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Sprague Resources by 29.6% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 14,894 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 19.99% of the company’s stock.

Shares of SRLP stock traded down $0.15 during trading on Wednesday, reaching $18.85. The company had a trading volume of 10,643 shares, compared to its average volume of 89,771. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.84 and a current ratio of 1.34. Sprague Resources LP has a one year low of $13.76 and a one year high of $28.00. The company has a market capitalization of $431.87 million, a price-to-earnings ratio of 5.97 and a beta of 1.57.

Sprague Resources (NYSE:SRLP) last issued its quarterly earnings data on Thursday, March 14th. The oil and gas company reported $1.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.58. Sprague Resources had a return on equity of 49.88% and a net margin of 2.02%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, analysts forecast that Sprague Resources LP will post 1.84 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on SRLP shares. Zacks Investment Research upgraded Sprague Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine raised Sprague Resources from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Raymond James downgraded Sprague Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday. They noted that the move was a valuation call.

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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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Institutional Ownership by Quarter for Sprague Resources (NYSE:SRLP)

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