Zacks Investment Research cut shares of Suburban Propane Partners (NYSE:SPH) from a hold rating to a sell rating in a research note published on Friday, January 19th.
According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “
Separately, UBS Group raised shares of Suburban Propane Partners from a neutral rating to a buy rating and lifted their price objective for the company from $26.00 to $29.00 in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Suburban Propane Partners presently has a consensus rating of Hold and a consensus price target of $27.60.
Shares of Suburban Propane Partners (NYSE SPH) traded down $0.06 during trading hours on Friday, hitting $25.28. 223,990 shares of the stock were exchanged, compared to its average volume of 326,961. The stock has a market capitalization of $1,550.00, a price-to-earnings ratio of 38.30 and a beta of 0.61. Suburban Propane Partners has a fifty-two week low of $22.71 and a fifty-two week high of $28.62. The company has a current ratio of 1.05, a quick ratio of 0.77 and a debt-to-equity ratio of 2.37.
Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, February 8th. The energy company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.28). The company had revenue of $373.00 million for the quarter, compared to analysts’ expectations of $422.16 million. Suburban Propane Partners had a return on equity of 26.88% and a net margin of 9.96%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. sell-side analysts expect that Suburban Propane Partners will post 1.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, February 5th. This represents a $2.40 annualized dividend and a dividend yield of 9.49%. Suburban Propane Partners’s payout ratio is currently 363.64%.
In related news, insider Keith P. Onderdonk sold 4,500 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $23.33, for a total transaction of $104,985.00. Following the completion of the transaction, the insider now directly owns 28,665 shares in the company, valued at $668,754.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sandra N. Zwickel sold 4,175 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $24.10, for a total transaction of $100,617.50. Following the transaction, the vice president now owns 21,060 shares of the company’s stock, valued at $507,546. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in Suburban Propane Partners in the fourth quarter valued at $139,000. Corbenic Partners LLC increased its holdings in Suburban Propane Partners by 0.3% in the second quarter. Corbenic Partners LLC now owns 7,527 shares of the energy company’s stock valued at $179,000 after buying an additional 21 shares in the last quarter. Legacy Advisors LLC purchased a new position in Suburban Propane Partners in the third quarter valued at $190,000. Claraphi Advisory Network LLC purchased a new position in Suburban Propane Partners in the fourth quarter valued at $250,000. Finally, MHI Funds LLC purchased a new position in Suburban Propane Partners in the fourth quarter valued at $259,000. 25.36% of the stock is owned by institutional investors.
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About Suburban Propane Partners
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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