Suburban Propane Partners (NYSE:SPH) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, January 3rd, 99wallstreet.com reports. The brokerage currently has a $29.00 price target on the energy company’s stock, up from their prior price target of $26.00. UBS Group’s price objective would indicate a potential upside of 12.67% from the stock’s current price.
Separately, Zacks Investment Research raised shares of Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Suburban Propane Partners currently has a consensus rating of “Hold” and a consensus price target of $27.50.
Shares of Suburban Propane Partners (SPH) opened at $25.74 on Wednesday. Suburban Propane Partners has a 1-year low of $22.71 and a 1-year high of $32.17. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 2.30. The stock has a market cap of $1,590.60, a P/E ratio of 42.20 and a beta of 0.64.
Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, November 16th. The energy company reported ($0.83) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.04. The firm had revenue of $197.11 million for the quarter, compared to the consensus estimate of $187.97 million. Suburban Propane Partners had a net margin of 3.20% and a return on equity of 5.81%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.99) earnings per share. analysts forecast that Suburban Propane Partners will post 1.49 EPS for the current fiscal year.
In related news, VP Sandra N. Zwickel sold 4,175 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $24.10, for a total transaction of $100,617.50. Following the completion of the sale, the vice president now owns 21,060 shares in the company, valued at approximately $507,546. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith P. Onderdonk sold 4,500 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $23.33, for a total transaction of $104,985.00. Following the sale, the insider now owns 28,665 shares of the company’s stock, valued at approximately $668,754.45. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bruderman Asset Management LLC bought a new position in shares of Suburban Propane Partners in the 2nd quarter valued at about $121,000. Corbenic Partners LLC raised its position in shares of Suburban Propane Partners by 0.3% in the 2nd quarter. Corbenic Partners LLC now owns 7,527 shares of the energy company’s stock valued at $179,000 after acquiring an additional 21 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Suburban Propane Partners in the 3rd quarter valued at approximately $190,000. D.A. Davidson & CO. raised its position in shares of Suburban Propane Partners by 9.9% in the 2nd quarter. D.A. Davidson & CO. now owns 11,459 shares of the energy company’s stock valued at $272,000 after acquiring an additional 1,035 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Suburban Propane Partners by 31.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,008 shares of the energy company’s stock valued at $286,000 after acquiring an additional 2,903 shares during the period. 25.82% of the stock is currently owned by institutional investors.
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Suburban Propane Partners Company Profile
Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.
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