Suburban Propane Partners, L.P. (NYSE:SPH) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,373,711 shares, a drop of 35.8% from the August 15th total of 2,138,770 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 259,235 shares, the days-to-cover ratio is presently 5.3 days.

In other news, Director Harold R. Logan, Jr. sold 2,127 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $24.20, for a total transaction of $51,473.40. Following the completion of the sale, the director now directly owns 24,074 shares of the company’s stock, valued at approximately $582,590.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.64% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SPH. Bruderman Asset Management LLC purchased a new stake in Suburban Propane Partners, L.P. during the second quarter valued at $121,000. Camarda Financial Advisors LLC increased its position in Suburban Propane Partners, L.P. by 33.1% during the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock valued at $126,000 after acquiring an additional 1,314 shares during the last quarter. Corbenic Partners LLC increased its position in Suburban Propane Partners, L.P. by 0.3% during the second 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 last quarter. Proficio Capital Partners LLC purchased a new stake in Suburban Propane Partners, L.P. during the first quarter valued at $189,000. Finally, PNC Financial Services Group Inc. increased its position in Suburban Propane Partners, L.P. by 56.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock valued at $207,000 after acquiring an additional 2,777 shares during the last quarter. Institutional investors own 25.57% of the company’s stock.

Shares of Suburban Propane Partners, L.P. (NYSE SPH) opened at 24.20 on Wednesday. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 52.27 and a beta of 0.65. Suburban Propane Partners, L.P. has a one year low of $22.71 and a one year high of $34.45. The company has a 50-day moving average price of $24.20 and a 200 day moving average price of $24.70.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The company had revenue of $222.90 million during the quarter, compared to analysts’ expectations of $221.93 million. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. Suburban Propane Partners, L.P.’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.49) earnings per share. Equities research analysts expect that Suburban Propane Partners, L.P. will post $0.58 earnings per share for the current year.

SPH has been the subject of several research analyst reports. ValuEngine lowered Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective on shares of Suburban Propane Partners, L.P. in a report on Friday, July 14th. Zacks Investment Research raised Suburban Propane Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Citigroup Inc. raised Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $32.00 to $27.00 in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.80.

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About Suburban Propane Partners, L.P.

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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