Suburban Propane Partners, L.P. (NYSE:SPH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

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. “

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target on shares of Suburban Propane Partners, L.P. in a research note on Friday. BidaskClub downgraded shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine downgraded shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Suburban Propane Partners, L.P. presently has an average rating of “Sell” and a consensus price target of $31.40.

Suburban Propane Partners, L.P. (NYSE SPH) opened at 24.25 on Tuesday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 52.04 and a beta of 0.63. The company’s 50 day moving average is $23.83 and its 200 day moving average is $26.79. Suburban Propane Partners, L.P. has a 1-year low of $22.71 and a 1-year high of $35.95.

Suburban Propane Partners, L.P. (NYSE:SPH) last issued its quarterly earnings results on Thursday, May 4th. The energy company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by $0.46. Suburban Propane Partners, L.P. had a return on equity of 3.86% and a net margin of 2.51%. The firm had revenue of $450.58 million during the quarter, compared to analysts’ expectations of $503.38 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Suburban Propane Partners, L.P. will post $0.71 EPS for the current year.

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Several hedge funds have recently modified their holdings of SPH. Camarda Financial Advisors LLC increased its stake in shares of Suburban Propane Partners, L.P. by 33.1% in the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock valued at $126,000 after buying an additional 1,314 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Suburban Propane Partners, L.P. by 9,363.6% in the second quarter. Bank of Montreal Can now owns 312,300 shares of the energy company’s stock valued at $7,430,000 after buying an additional 309,000 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Suburban Propane Partners, L.P. by 8.9% in the first quarter. Clearbridge Investments LLC now owns 869,630 shares of the energy company’s stock valued at $23,445,000 after buying an additional 71,000 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Suburban Propane Partners, L.P. during the first quarter valued at $189,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Suburban Propane Partners, L.P. by 27.6% in the first quarter. Goldman Sachs Group Inc. now owns 816,752 shares of the energy company’s stock valued at $22,020,000 after buying an additional 176,872 shares in the last quarter. Institutional investors and hedge funds own 28.27% of the company’s stock.

Suburban Propane Partners, L.P. 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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