Superior Plus Corp

SPB-T

Analysis and Opinions about SPB-T

Signal
Opinion
Expert
HOLD
HOLD
April 12, 2018

This did meet his criteria. Continue to collect the dividends.

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This did meet his criteria. Continue to collect the dividends.

COMMENT
COMMENT
October 3, 2017

This was a pure propane business, and then went into building products, pulp chemicals, and none of those worked out very well. The history of expanding its product line is not a great one. However, this has been a strong dividend payer for a long time. Doesn’t think it has tremendous growth potential and that their propane business is always going to be a kind of “on the margin” type of business. You own this for the dividend yield of 5.7%, not the growth.

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This was a pure propane business, and then went into building products, pulp chemicals, and none of those worked out very well. The history of expanding its product line is not a great one. However, this has been a strong dividend payer for a long time. Doesn’t think it has tremendous growth potential and that their propane business is always going to be a kind of “on the margin” type of business. You own this for the dividend yield of 5.7%, not the growth.

COMMENT
COMMENT
September 28, 2017

This had a very big move today. They got approval to buy CanWest, which he sees as double digit accretive. The balance sheet is getting better. He models 15% EPS growth and 5% cash flow per share growth. A 61% payout ratio giving you a 6%+ dividend to wait. Another good name that is coming alive.

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Superior Plus Corp (SPB-T)
September 28, 2017

This had a very big move today. They got approval to buy CanWest, which he sees as double digit accretive. The balance sheet is getting better. He models 15% EPS growth and 5% cash flow per share growth. A 61% payout ratio giving you a 6%+ dividend to wait. Another good name that is coming alive.

BUY
BUY
September 7, 2017

The largest propane distributor in Canada. They sold their construction division. He likes this company and if it is a colder winter it will do even better. It is a well run company.

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Superior Plus Corp (SPB-T)
September 7, 2017

The largest propane distributor in Canada. They sold their construction division. He likes this company and if it is a colder winter it will do even better. It is a well run company.

WEAK BUY
WEAK BUY
August 23, 2017

It has come off, like the others. It could do better as the year goes on.

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It has come off, like the others. It could do better as the year goes on.

COMMENT
COMMENT
July 28, 2017

They just had a solid quarter in all segments, and upped their guidance a percent higher than the midpoint for 2016. He is modelling cash flow growth at 11% from 2016 to 2018, compounded annually. 61% payout ratio of cash flow. The generous dividend of 6% looks safe. Their balance sheet might be a little more levered than he would like. This is probably an opportunity.

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They just had a solid quarter in all segments, and upped their guidance a percent higher than the midpoint for 2016. He is modelling cash flow growth at 11% from 2016 to 2018, compounded annually. 61% payout ratio of cash flow. The generous dividend of 6% looks safe. Their balance sheet might be a little more levered than he would like. This is probably an opportunity.

COMMENT
COMMENT
June 28, 2017

Has a very small position in this. Great yield of 6%. The balance sheet is not a problem. Valuation is fine at 10X EBITDA. Missed on a recent quarter which is why the price momentum has rolled off. Probably not a terrible stock to own here.

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Has a very small position in this. Great yield of 6%. The balance sheet is not a problem. Valuation is fine at 10X EBITDA. Missed on a recent quarter which is why the price momentum has rolled off. Probably not a terrible stock to own here.

COMMENT
COMMENT
January 20, 2017

Has a propane division as well as heating oil in the US, as well as some chemicals. Sold their US construction distribution business, and the balance sheet is better because of that. With a colder weather in Western Canada, he expects them to have good results. Also, expects them to raise their dividend over time. Dividend yield of 5.7%.

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Superior Plus Corp (SPB-T)
January 20, 2017

Has a propane division as well as heating oil in the US, as well as some chemicals. Sold their US construction distribution business, and the balance sheet is better because of that. With a colder weather in Western Canada, he expects them to have good results. Also, expects them to raise their dividend over time. Dividend yield of 5.7%.

HOLD
HOLD
July 27, 2016

(Market Call Minute.) Wouldn’t chase this one too much.

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(Market Call Minute.) Wouldn’t chase this one too much.

BUY
BUY
June 17, 2016

50% energy services, 35% chemical and 16% building. He likes the company. It has a 71% payout ratio, so the dividend should be pretty safe. They are trying to acquire Canexus (CUS-T) which would make them a more formidable player in the chemical space. Trading in line with its peers, but is a lot cheaper than its energy services peers. Have done a really good job of cost-cutting.

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50% energy services, 35% chemical and 16% building. He likes the company. It has a 71% payout ratio, so the dividend should be pretty safe. They are trying to acquire Canexus (CUS-T) which would make them a more formidable player in the chemical space. Trading in line with its peers, but is a lot cheaper than its energy services peers. Have done a really good job of cost-cutting.

BUY WEAKNESS
BUY WEAKNESS
June 15, 2016

Acquiring all of Canexus (CUS-T) assets. The deal has been stretching out forever. There are cost synergies. Anything uncertain casts a pall over stocks for a while. The decision has been delayed until June 29, and they are either going to get approval or divest one of their existing plants. Also, propane prices are a little better and should perk up some. Not a bad Buy under $11.

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Acquiring all of Canexus (CUS-T) assets. The deal has been stretching out forever. There are cost synergies. Anything uncertain casts a pall over stocks for a while. The decision has been delayed until June 29, and they are either going to get approval or divest one of their existing plants. Also, propane prices are a little better and should perk up some. Not a bad Buy under $11.

COMMENT
COMMENT
May 31, 2016

3 different businesses. 1) Propane distribution, mainly out of the US, 2) chemicals and 3) a construction products division. The construction products division has done very well and he thinks they will eventually divest this. Propane distribution is very steady. Chemicals can be up and down depending on what happens in the oil/gas markets. The only thing you have to worry about is whether they will be successful or not in acquiring Canexus (CUS-T). A good place to be and doesn’t think you will get too much interest rate sensitivity on this.

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3 different businesses. 1) Propane distribution, mainly out of the US, 2) chemicals and 3) a construction products division. The construction products division has done very well and he thinks they will eventually divest this. Propane distribution is very steady. Chemicals can be up and down depending on what happens in the oil/gas markets. The only thing you have to worry about is whether they will be successful or not in acquiring Canexus (CUS-T). A good place to be and doesn’t think you will get too much interest rate sensitivity on this.

DON'T BUY
DON'T BUY
May 20, 2016

(Market Call Minute.) Not his top pick, and he would be adding into other areas instead.

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(Market Call Minute.) Not his top pick, and he would be adding into other areas instead.

COMMENT
COMMENT
May 10, 2016

Had probably been the single best company in Canada 15 years ago in terms of monopoly franchise and what they did. Then they bought other diversified businesses which collapsed and had to restructure. It has now been cleaned up and is on his list of companies that he would probably like at the right price. However, a lot of the move will probably be geared to the construction market in the US, which might or might not happen. This is being fixed, but you still have this propane monopoly. The 16% dividend really looks secure.

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Had probably been the single best company in Canada 15 years ago in terms of monopoly franchise and what they did. Then they bought other diversified businesses which collapsed and had to restructure. It has now been cleaned up and is on his list of companies that he would probably like at the right price. However, a lot of the move will probably be geared to the construction market in the US, which might or might not happen. This is being fixed, but you still have this propane monopoly. The 16% dividend really looks secure.

HOLD
HOLD
May 4, 2016

(Market Call Minute.) This is in 3 different businesses, propane, construction products and energy management. Has had a nice run up.

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(Market Call Minute.) This is in 3 different businesses, propane, construction products and energy management. Has had a nice run up.

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