TSE:SPB

Superior Plus Corp (SPB.TO)

8.02
+0.06 (0.75%)
as of Jul 16, 2026, 8:00:00 pm Market Open.
248 watching
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Investor Insights
star iconJul 16, 2026, 12:00 am

This summary was created by AI, based on 4 opinions in the last 12 months.

Superior Plus Corp (SPB-T) operates primarily in the energy sector, dealing with propane and other fuels in Canada and the US, which are highly dependent on weather conditions. The company faces significant volatility, particularly in its propane segment, resulting in a challenging earnings environment. Recent earnings reports have disappointed investors, leading to an 18% drop in stock price and raising questions about management credibility. While the company diversifies its portfolio with a recent acquisition in compressed natural gas and renewable natural gas, it has struggled with operational efficiency and has revised its growth outlook from a projected 10% increase in the US to a decrease of 5%. Over the long term, shareholder returns have been minimal, suggesting that investors might be sacrificing capital appreciation for dividend income, presently yielding around 2.5%.

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Consensus
Negative
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Valuation
Overvalued
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Husky, HSE
BUY
A high quality diversified trust. Saw explosive growth in the price, but getting more difficult to put together those kinds of acquisitions that will matter, because it is getting large.
TOP PICK
Over the last few years, the company has reinvented itself as a mini conglomerate. Have 2 chemical businesses, a building products division, an energy marketing business. A well managed trust that's raised its distributions pretty much every year. Not cheap at this price, but not too expensive either.
BUY
65% payout ratio. Have diversified in the last couple of years through acquisitions and so should experience quite a bit of growth going forward. Free cash flow in relation to free cash distributions is close to 90% and is lower than what he would like to see but should be able to grow into it with their new acquisitions.
TOP PICK
Very strong management team. Long record of increased distributions and shareprice gains. Diversified in a variety of unrelated businesses but complementary. 72% payout ratio. Not inexpensive.
HOLD
Have become diversified into a few different areas. Continues to like the story, but it is probably pretty fully valued here. Top knotch management.
BUY
Their biggest business is distributing propane. They have also diversified into other areas, such as appliance distribution, chemical distribution which he likes.
BUY
Stunning track record. Good management. Can grow.
HOLD
Used to be a propane distribution business only, but made acquisitions in unrelated business which are generating relatively stable levels of cash flow. Good management. Has had a good run.
BUY
Has raised their distributions for several years. Great management.
BUY ON WEAKNESS
Management has done an extremely good job in growing cash distributions. Have also diversified away from just propane and into propane, pulp chemicals and gyprock and have been able to lock in profit margins. About an 8% yield. Fairly valued.
TOP PICK
(A Top Pick on Nov 17/04. Down 2.7%.) Have raised their distribution every year in the past 8 years. Very strong management team and a good portfolio of businesses should continue to produce value for investors.
BUY ON WEAKNESS
Diverted into chemicals and more recently into building products where they have opportunities to diversify and grow. Still 50% propane. Management has a good track record of integration. A good trust.
SELL
Made a good move into the non-toxic supplies for the pulp business and have since made other acquisitions. If you own, take profits.
DON'T BUY
Feels the company is in transition from a growth story to a more stable yield story. An average trust with stable distribution over the next couple of years. Prefers growth trusts.
HOLD
Has one of the best track records for stable and growing distributions. Management is very good at maintaining profit margins. Valuation is a little expensive. Have a 2 sector perform.
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