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Sprague Resources LP (SRLP)

NYSE - Nasdaq Real Time Price. Currency in USD
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15.52-0.20 (-1.24%)
As of 03:53PM EDT. Market open.
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  • C
    Carl Jr.
    my guess, they will have formal offer before the next Quarter is released and prior to the next distribution announcement. minority unitholders are in a very weak negotiating position so I don't expect much if any bump.
  • P
    Paul
    Distribution maintained and declared today.
  • k
    kenneth
    And I thought they would close the buyout before paying another distribution.
  • M
    Mark
    Are we looking for a K-1 tax form from SRLP for 2021?
  • L
    Lucifer
    Most likely Hartree will attempt to finalize the theft of our shares sometime within the next 30 days. Supposedly our Board of Directors is reviewing the offer to determine its fairness but since five of our nine member BOD, including the chairman, are from Hartree I'm sure they will see no problem with the lowball offer. They will probably need to get a crooked bank or investment firm like GoldmanSucks to write an opinion indicating that the $16.50 offer is fair. Seems to me the offer should at least be at the $18.50 price they paid Alex for his shares.... or more. In the end Hartree will take your shares, probably at their $16.50 offer price. Glad I sold most of my units in May last year for $24.50. Cheers!
  • C
    Chuck
    I made some estimates and assumptions and came up with a $.455 quarterly dividend going forward, which is a 32% cut and would save them about $22 mil annualized; half that in 2021 since it is just 2 quarters. I believe they said their expansion capital for 2020 was $3.8 mil, so $22 mil would leave a lot of cash available for growth projects, and perhaps other purposes. My guess is the new owner/sponsor wants to use cash to buy back units and increase their ownership ratio. I can share my calcs if some are interested in helping evaluate or tweak this. I am not real confident on it, but it is an assumption going forward to help evaluate buy/sell/hold. On the call they attributed the weak performance to Q2 and Q3 being typically weak quarters, and Q1, Q4 being stronger, but said the results were not out of line with expectations. Although their expectations and our expectations might not be the same. They said they were holding their 2021 EBITDA projection at the range of $105 mil to $120 mil.
  • k
    kenneth
    I have not seen it mentioned on the board (it may have but I have not seen it): CFO David Long made two open market buys (11/09/21 9K shares @ 16.25 11/16/21 5K shares @ 16.25. That took his holdings to 30,050–in essence doubling. And let’s not forget that Hartree paid $16.00 a share. Therefore, I’m going shopping to add a these levels.
  • J
    Jill
    Sprague expects to maintain the 2019 quarterly distributions at the current distribution level of $0.6675 per unit. NICE
  • M
    Mad_Ratter
    Just added another 1,200 shares at $17.21. Puts me to 4,800 shares - so dividend is getting to be a nice chunk of change. ...next but in for me is at $16’ish if it ever gets that low again (unlikely)
  • L
    L.O.O. Enterprises, Inc.
    How does this work in a Roth IRA? Dividends are taxable but share gains are not?
  • J
    John
    What I found out is my broker bought a block before my dividend arrive. The stock drop on friday, before the dividend arrive to my account. when the dividend arrive, they use that block of share and give it to me, didn't expecting a 30% lost from dividend.

    is this a SEC complaint issue?
  • G
    George
    Hartree is looking at "Green" energy investments, which is the future whether we like it or not. But it is NOT a money maker today. I anticipate the infrastructure spending to tank the SP and this go private again within a year
  • M
    Mad_Ratter
    This is a cash generator. For a business at this maturity level cash is more important than earnings. They are doing a great job and the dividend stays intact. A 16% yield will self correct, meaning the stock price will continue to increase.

    The encouraging news is the growth outside of heating oil. This is good diversification for SRLP and less volatile. That said, it also doesn't hurt that 2019 has started out with a lot of very cold days here in the North. I expect they'll have very good results to report for the Q1 close. Don't bet on this stock staying below $18 by April. I think it's more likely it's over $20 after Q1 results are posted.
  • R
    Robot
    Valuation based on earnings and distribution is out. I'm out. No range provided to investors for the distribution cut. Funds are needed for new and exciting opportunities away from fossil fuel revenue sources. Possibly a good long-term strategy. But off-shore windmills can be expense, borrowing will be needed, and it will take awhile before the any such investment provides a return. Meanwhile, increased borrowing costs will eat into earnings. I think bad news is hard to put out, and that's why no distribution range (payout or cut) was provided to placate investors in face of todays dramatic hit to the stock's price this morning.
  • B
    Barry
    Shares are over 30 cents of offer price. Board not going to accept offer.
  • A
    Anonymous
    Where can I get more information about this company? Gas prices have risen a lot this year.
  • J
    Jill
    Ended up picking up shares at $15.08 yesterday in a limit order.
  • J
    Jill
    Too much uncertainty over ownership and distribution cut. Wasn't it a year or so ago they wanted to buy all shares at a discount to market? Market doesn't like questions with no answers.
  • A
    Anonymous
    It seems that someone who is not satisfied with the low offering may file a class action suit. there needs to be some weighted average buyout price that matches the unit price over the past year or two.
  • M
    Mad_Ratter
    EBITDA up 60% YOY. That’s extremely encouraging. Dividend maintained and still generating cash for other opportunities. I don’t understand how this stays under $20 but I don’t care. Keep giving me these great dividends and opportunities to buy more shares with a 15% yield - thank you.
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