Suburban Propane Partners (NYSE:SPH) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Suburban Propane Partners, L.P. (NYSE:SPH) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.59 and traded as high as $19.85. Suburban Propane Partners shares last traded at $19.55, with a volume of 82,561 shares trading hands.

Wall Street Analysts Forecast Growth

SPH has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Suburban Propane Partners in a report on Monday, May 18th. Zacks Research lowered Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Suburban Propane Partners Stock Down 0.5%

The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50 day moving average price of $19.80 and a 200 day moving average price of $19.59. The firm has a market capitalization of $1.30 billion, a P/E ratio of 9.82 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, May 7th. The energy company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.32. The business had revenue of $551.21 million for the quarter, compared to analyst estimates of $575.00 million. Suburban Propane Partners had a return on equity of 19.45% and a net margin of 9.57%. On average, analysts predict that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current year.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were paid a $0.325 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.6%. Suburban Propane Partners’s payout ratio is presently 65.33%.

Hedge Funds Weigh In On Suburban Propane Partners

A number of institutional investors have recently made changes to their positions in SPH. Alps Advisors Inc. increased its stake in shares of Suburban Propane Partners by 5.1% in the fourth quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock worth $279,049,000 after purchasing an additional 724,170 shares during the period. Bowen Hanes & Co. Inc. increased its stake in shares of Suburban Propane Partners by 24.5% in the third quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock worth $18,948,000 after purchasing an additional 200,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Suburban Propane Partners by 4.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock worth $77,912,000 after purchasing an additional 192,154 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Suburban Propane Partners by 11.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after purchasing an additional 142,547 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Suburban Propane Partners in the second quarter worth about $2,278,000. 30.94% of the stock is currently owned by institutional investors.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.