Suburban Propane Partners LP (SPH) Receives Average Rating of “Hold” from Brokerages
Shares of Suburban Propane Partners LP (NYSE:SPH) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the firm. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $29.67.
A number of research analysts recently commented on SPH shares. Stifel Nicolaus cut Suburban Propane Partners from a “buy” rating to a “hold” rating and decreased their price target for the stock from $34.00 to $29.00 in a research report on Tuesday, February 14th. Zacks Investment Research upgraded Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 9th.
In related news, Director Harold R. Logan, Jr. sold 3,500 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $26.18, for a total value of $91,630.00. Following the transaction, the director now owns 27,574 shares in the company, valued at $721,887.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Landuyt purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average price of $24.38 per share, for a total transaction of $97,520.00. Following the transaction, the director now directly owns 20,560 shares of the company’s stock, valued at approximately $501,252.80. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. boosted its position in shares of Suburban Propane Partners by 18.6% in the first quarter. OppenheimerFunds Inc. now owns 4,614,383 shares of the energy company’s stock worth $124,404,000 after buying an additional 723,317 shares during the last quarter. Energy Income Partners LLC bought a new position in shares of Suburban Propane Partners during the fourth quarter worth approximately $50,225,000. JPMorgan Chase & Co. boosted its position in shares of Suburban Propane Partners by 7.1% in the first quarter. JPMorgan Chase & Co. now owns 945,351 shares of the energy company’s stock worth $25,486,000 after buying an additional 62,323 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Suburban Propane Partners by 27.6% in the first quarter. Goldman Sachs Group Inc. now owns 816,752 shares of the energy company’s stock worth $22,020,000 after buying an additional 176,872 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Suburban Propane Partners by 37.2% in the first quarter. Morgan Stanley now owns 618,482 shares of the energy company’s stock worth $16,674,000 after buying an additional 167,691 shares during the last quarter. Institutional investors own 29.05% of the company’s stock.
Suburban Propane Partners (NYSE:SPH) traded down 0.1145% during midday trading on Tuesday, hitting $23.2933. 17,930 shares of the stock traded hands. The firm’s 50 day moving average is $25.38 and its 200-day moving average is $27.79. The stock has a market capitalization of $1.42 billion, a PE ratio of 49.9856 and a beta of 0.88. Suburban Propane Partners has a 12-month low of $22.71 and a 12-month high of $37.10.
Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, May 4th. The energy company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.82 by $0.46. Suburban Propane Partners had a return on equity of 4.69% and a net margin of 3.37%. The firm had revenue of $450.58 million for the quarter, compared to analyst estimates of $503.38 million. During the same period in the prior year, the business posted $1.51 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Suburban Propane Partners will post $0.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Investors of record on Tuesday, May 2nd were given a $0.887 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 15.21%. The ex-dividend date was Friday, April 28th. Suburban Propane Partners’s payout ratio is currently 601.71%.
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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