Suburban Propane Partners, L.P. (NYSE:SPH) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Thursday.

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. “

Several other research firms also recently weighed in on SPH. Citigroup Inc. upgraded shares of Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $32.00 to $27.00 in a research note on Thursday, July 27th. BidaskClub upgraded shares of Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 target price on shares of Suburban Propane Partners, L.P. in a research note on Friday, August 18th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $29.00.

Suburban Propane Partners, L.P. (NYSE:SPH) traded up 1.44% during mid-day trading on Thursday, reaching $26.08. 225,094 shares of the company’s stock were exchanged. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 56.33 and a beta of 0.64. The company has a 50-day moving average of $25.26 and a 200-day moving average of $24.71. Suburban Propane Partners, L.P. has a 52-week low of $22.71 and a 52-week high of $34.44.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.11. The firm had revenue of $222.90 million during the quarter, compared to the consensus estimate of $221.93 million. Suburban Propane Partners, L.P. had a net margin of 2.46% and a return on equity of 4.09%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.49) earnings per share. Equities research analysts anticipate that Suburban Propane Partners, L.P. will post $0.59 earnings per share for the current year.

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In related news, Director Harold R. Logan, Jr. sold 2,127 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $24.20, for a total transaction of $51,473.40. Following the completion of the transaction, the director now owns 24,074 shares of the company’s stock, valued at $582,590.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.64% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Suburban Propane Partners, L.P. by 18.4% during the second quarter. Goldman Sachs Group Inc. now owns 967,175 shares of the energy company’s stock valued at $23,009,000 after acquiring an additional 150,423 shares in the last quarter. Clearbridge Investments LLC grew its stake in Suburban Propane Partners, L.P. by 8.9% during the first quarter. Clearbridge Investments LLC now owns 869,630 shares of the energy company’s stock valued at $23,445,000 after acquiring an additional 71,000 shares in the last quarter. Morgan Stanley grew its stake in Suburban Propane Partners, L.P. by 37.2% during the first quarter. Morgan Stanley now owns 618,482 shares of the energy company’s stock valued at $16,674,000 after acquiring an additional 167,691 shares in the last quarter. Bank of America Corp DE grew its stake in Suburban Propane Partners, L.P. by 1.1% during the first quarter. Bank of America Corp DE now owns 428,069 shares of the energy company’s stock valued at $11,541,000 after acquiring an additional 4,767 shares in the last quarter. Finally, Abrams Capital Management L.P. purchased a new position in Suburban Propane Partners, L.P. during the second quarter valued at approximately $9,254,000. 25.57% of the stock is owned by institutional investors.

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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