Ladenburg Thalmann Lowers Susser Petroleum Partners to Neutral (SUSP)
Susser Petroleum Partners (NASDAQ:SUSP) was downgraded by stock analysts at Ladenburg Thalmann from a “buy” rating to a “neutral” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.
Susser Petroleum Partners (NASDAQ:SUSP) opened at 58.97 on Wednesday. Susser Petroleum Partners has a one year low of $29.27 and a one year high of $59.99. The stock has a 50-day moving average of $52.72 and a 200-day moving average of $43.59. The company has a market cap of $1.295 billion and a price-to-earnings ratio of 33.35.
Susser Petroleum Partners (NASDAQ:SUSP) last announced its earnings results on Friday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by $0.11. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. On average, analysts predict that Susser Petroleum Partners will post $2.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.5197 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, August 15th. This is a positive change from Susser Petroleum Partners’s previous quarterly dividend of $0.50.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. downgraded shares of Susser Petroleum Partners from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Separately, analysts at RBC Capital raised their price target on shares of Susser Petroleum Partners from $48.00 to $57.00 in a research note on Monday, August 18th. They now have an “outperform” rating on the stock. Finally, analysts at Benchmark Co. downgraded shares of Susser Petroleum Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 4th. They now have a $47.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Susser Petroleum Partners has a consensus rating of “Hold” and a consensus price target of $43.67.
Susser Petroleum Partners LP is primarily engaged in fee-based wholesale distribution of motor fuels to Susser Holdings Corporation (NASDAQ:SUSP) and third parties.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.