Superior Plus Corp

SPB-T

Analysis and Opinions about SPB-T

Signal
Opinion
Expert
BUY
BUY
March 3, 2016

Very cheap at 11X earnings with an 8% dividend yield. In the process of acquiring Canexus (CUS-T), but markets are giving no credit for this. There are regulatory risks that the deal gets turned down, but there should still be some premium priced into this that maybe it will go through. If it goes through, there could be a very nice expansion in multiples because they are going to be generating a lot of cash flow. Since this valuation is not being given any credit, you have upside opportunity, but very limited downside risk. It is also a utility giving stability. The dividend should be good.

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Very cheap at 11X earnings with an 8% dividend yield. In the process of acquiring Canexus (CUS-T), but markets are giving no credit for this. There are regulatory risks that the deal gets turned down, but there should still be some premium priced into this that maybe it will go through. If it goes through, there could be a very nice expansion in multiples because they are going to be generating a lot of cash flow. Since this valuation is not being given any credit, you have upside opportunity, but very limited downside risk. It is also a utility giving stability. The dividend should be good.

COMMENT
COMMENT
November 24, 2015

Has a pretty healthy PE ratio. Dividend yield of 7%+ and ranks pretty well on his metrics. However, analysts have been bringing their estimates down recently, so he would be careful in the short term.

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Superior Plus Corp (SPB-T)
November 24, 2015

Has a pretty healthy PE ratio. Dividend yield of 7%+ and ranks pretty well on his metrics. However, analysts have been bringing their estimates down recently, so he would be careful in the short term.

COMMENT
COMMENT
November 5, 2015

They were disappointing on their latest earnings. Just lowered their cash flow guidance, but cited a recent equity raise that they did to fund their Canexus (CUS-T) merger and IT expenses next year. The problem with them not growing as much means that their balance sheet is a little more levered than you want it to be if they get approval for their merger. The good news is that Canexus will be very accretive for them, and will really strengthen their chemicals platform. They have a lot of their operations in the US. In 2016 all their US hedges roll off, which will be a bit of an FX tailwind. Likes the name.

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Superior Plus Corp (SPB-T)
November 5, 2015

They were disappointing on their latest earnings. Just lowered their cash flow guidance, but cited a recent equity raise that they did to fund their Canexus (CUS-T) merger and IT expenses next year. The problem with them not growing as much means that their balance sheet is a little more levered than you want it to be if they get approval for their merger. The good news is that Canexus will be very accretive for them, and will really strengthen their chemicals platform. They have a lot of their operations in the US. In 2016 all their US hedges roll off, which will be a bit of an FX tailwind. Likes the name.

COMMENT
COMMENT
November 3, 2015

Reported quarterly results that were a little bit messy. It certainly disappointed the street. Recently announced the acquisition of Canexus (CUS-T), and he thinks the outcome of the regulatory review will be in the middle of next year. That should provide some clarity for the stock. Sold off because the operational results were not very good. It is also an entity that is highly leveraged. This is probably a victim of a little bit of tax loss selling. Thinks the intrinsic value of the entity as a whole is far greater than $10, especially if they sell their construction business.

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Superior Plus Corp (SPB-T)
November 3, 2015

Reported quarterly results that were a little bit messy. It certainly disappointed the street. Recently announced the acquisition of Canexus (CUS-T), and he thinks the outcome of the regulatory review will be in the middle of next year. That should provide some clarity for the stock. Sold off because the operational results were not very good. It is also an entity that is highly leveraged. This is probably a victim of a little bit of tax loss selling. Thinks the intrinsic value of the entity as a whole is far greater than $10, especially if they sell their construction business.

COMMENT
COMMENT
October 30, 2015

Have made an offer to buy Canexus (CUS-T), which might run into a few regulatory hurdles. If they do manage to get the deal through, it is going to be very accretive. Have 2 other businesses, propane distribution and a consumer’s products division, (drywall and sheet wall that they sell.) The propane distribution is excessively stable. The dividend yield of 6.9% is very safe.

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Superior Plus Corp (SPB-T)
October 30, 2015

Have made an offer to buy Canexus (CUS-T), which might run into a few regulatory hurdles. If they do manage to get the deal through, it is going to be very accretive. Have 2 other businesses, propane distribution and a consumer’s products division, (drywall and sheet wall that they sell.) The propane distribution is excessively stable. The dividend yield of 6.9% is very safe.

WATCH
WATCH
August 21, 2015

There are a couple of places where we could’ve hung our hat. It looks like about a week ago, where it bounced right up to that, but then was repelled back down. Watch the level at around $10.70 to see if it will hold there, and that would be a sort of place to hang your hat on.

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There are a couple of places where we could’ve hung our hat. It looks like about a week ago, where it bounced right up to that, but then was repelled back down. Watch the level at around $10.70 to see if it will hold there, and that would be a sort of place to hang your hat on.

WAIT
WAIT
May 5, 2015

Chart shows a gradual upward channel from 2013, and is now starting to turn down a little. This has the same general tendencies as the overall market. He wouldn’t be buying at this time. Wait until the fall.

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Chart shows a gradual upward channel from 2013, and is now starting to turn down a little. This has the same general tendencies as the overall market. He wouldn’t be buying at this time. Wait until the fall.

DON'T BUY
DON'T BUY
December 8, 2014

He sold a couple of months ago. He thinks there are better places to go. The dividend is okay, though. There is a fight with CRA and if they lose it could be negative for the stock.

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Superior Plus Corp (SPB-T)
December 8, 2014

He sold a couple of months ago. He thinks there are better places to go. The dividend is okay, though. There is a fight with CRA and if they lose it could be negative for the stock.

COMMENT
COMMENT
June 19, 2014

Selling construction materials division. Their focus is to pay down debt, reduce costs, etc. You won’t see a dividend increase any time soon. He is indifferent about it.

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Selling construction materials division. Their focus is to pay down debt, reduce costs, etc. You won’t see a dividend increase any time soon. He is indifferent about it.

HOLD
HOLD
March 6, 2014

Has owned it. It is like a dividend paying energy company. Would not be adding.

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Has owned it. It is like a dividend paying energy company. Would not be adding.

BUY
BUY
December 2, 2013

Doesn’t believe they will cut the dividend. Will probably grow about 5% next year and 10+ the next year. If you wait long enough you could see multiple expansion.

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Superior Plus Corp (SPB-T)
December 2, 2013

Doesn’t believe they will cut the dividend. Will probably grow about 5% next year and 10+ the next year. If you wait long enough you could see multiple expansion.

Laura Lau

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Price
$11.760
Owned
Unknown
COMMENT
COMMENT
September 30, 2013

Convertible debentures? Usually you see convertible debentures on weaker credits that might have some underlying promise as far as the equity goes, but they are paying you something for that risk. This company has been around for a long time in the propane/gas distribution business. Not a liquid market so not something that you could easily Sell or Buy in the marketplace.

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Superior Plus Corp (SPB-T)
September 30, 2013

Convertible debentures? Usually you see convertible debentures on weaker credits that might have some underlying promise as far as the equity goes, but they are paying you something for that risk. This company has been around for a long time in the propane/gas distribution business. Not a liquid market so not something that you could easily Sell or Buy in the marketplace.

COMMENT
COMMENT
September 26, 2013

Used to follow this really closely. He had been looking at this one at about $8. Liked the way they were diversified into different sectors.

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Superior Plus Corp (SPB-T)
September 26, 2013

Used to follow this really closely. He had been looking at this one at about $8. Liked the way they were diversified into different sectors.

PAST TOP PICK
PAST TOP PICK
September 9, 2013

(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.

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Superior Plus Corp (SPB-T)
September 9, 2013

(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
BUY
June 21, 2013

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.

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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.

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