TSE:SPB

Superior Plus Corp (SPB.TO)

7.85
+0.03 (0.38%)
as of Jun 26, 2026, 8:00:00 pm Market Open.
248 watching
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Investor Insights
star iconJun 26, 2026, 12:00 am

This summary was created by AI, based on 5 opinions in the last 12 months.

Superior Plus Corp (SPB-T) operates primarily in the propane market, which exhibits considerable volatility largely influenced by weather conditions and seasonal fluctuations. Recent earnings reports have raised concerns, resulting in an 18% drop in share price and suggesting potential management credibility issues. The company’s operations extend into logistics for propane and other fuels across North America, but guidance has shifted from an optimistic 10% growth outlook in the U.S. to a more concerning negative 5%. Although the company has entered the compressed natural gas and renewable natural gas sectors with recent acquisitions, its historical earnings have been erratic, with a decade-long compounded shareholder return of just over 1% and a minimal 0.5% return over 20 years. While the business appears stable and generates consistent income, experts are cautious about its volatility and future growth prospects.

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Consensus
Cautious
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Valuation
Overvalued
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NGLS
PAST TOP PICK

(Top Pick Jan 24/13, 5.28%) Pretty good dividend. He recently bought more. Recently had a setback that will delay some growth. He would still own this. Dividend is safe. Could see dividend move up in 24 months.

BUY

Likes this company. For the past $3-$4 gain, people have been worried about this company’s debt, dividend and the economic situation but quarter after quarter, they just put up the numbers. Cash flow is very strong. Dividend could be raised if they wanted. Pretty solid name.

BUY

Pull back is about “the herd” and is not stock specific. With their margins improving, their comp annual growth rate over the next couple of years and reduced leverage, there is a good shot they can increase their dividends up to 50% over the next 3 years. They say they can grow their business 7% -10% over the next few years. Margins are improving. Payout ratio is safe. 5.4% dividend yield.

WEAK BUY

(Market Call Minute.) Has a central value of about $12 and has been trading either side of this. Could be bought, but only for a small bounce.

COMMENT

Debentures (SPG.DB.G) maturing Oct 31/16 and callable Oct 31/14. Should I Sell, convert to common shares or hold to maturity? All convertibles seem to be very expensive these days so you should look at converting them. (You can email him at [email protected])

BUY ON WEAKNESS

Stock has been on a real tear. On a “sum of its parts” basis, he thinks it is worth $13 so has more upside. Feels investors are responding to their improving balance sheet, a more sustainable dividend, higher propane prices and higher US demand for propane. Market also likes their 2 other businesses. 4.8% yield.

TOP PICK

Good dividend while you wait. Have a tight window between when they buy and sell the propane.

HOLD

(Market Call Minute.) Had a nice run and recovery. New management which has really turned it around. He owns the convertible debentures.

TOP PICK

Had problems for a long time, but a new CEO came in and it is really a turnaround story. Wasn’t very well run and there is a lot of low hanging fruit, doing things better and focusing on customer service. Could see it north of $10 in 12 months. 6.5% dividend yield.

HOLD

Propane is the main business but also has pulp and paper chemicals. Stock took a big hit when distributions were cut. Has had a bit of a renaissance lately. Thinks their core businesses are improving. 6.5% yield. Thinks it is worth holding onto as better times are ahead for them.

DON'T BUY
Market is suggesting they can’t keep the dividend. You really have to look into the business. It is problematic. The propane market collapsed. They have had some issues going forward as has management. He would avoid it. They have a high yield debt that is under stress.
DON'T BUY
Fairly high yield, 9%. Mostly propane but some building materials. Market is telling it is worried. For yield, you could look at convertible debentures. New management last fall, sharp guys. There is a higher than average risk, though.
SELL
There is an oversupply situation in propane. Forecast for the next year would be negative.
COMMENT
Had followed this one for years. There was always a question about the distribution, which has since been cut. On his watch list but he has to take a better look at their financials. The kind of company he could like. Nicely diversified.
DON'T BUY
Has about 6 times its cash flow in debt and he things investors have to stay away from it. Have to keep raising capital to fund dividend. He has a small short position.
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