Suburban Propane Partners (NYSE:SPH) Downgraded by Wall Street Zen to Hold

Suburban Propane Partners (NYSE:SPH) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

SPH has been the subject of several other research reports. Weiss Ratings downgraded shares of Suburban Propane Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Zacks Research downgraded shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Suburban Propane Partners Trading Up 1.0%

Shares of SPH stock opened at $16.72 on Friday. The stock has a 50-day moving average of $19.26 and a 200-day moving average of $19.52. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 1.69. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 8.40 and a beta of 0.40. Suburban Propane Partners has a 1-year low of $16.53 and a 1-year high of $20.80.

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, beating analysts’ consensus estimates of $1.74 by $0.32. Suburban Propane Partners had a net margin of 9.57% and a return on equity of 19.45%. The company had revenue of $551.21 million for the quarter, compared to analyst estimates of $575.00 million. On average, equities research analysts forecast that Suburban Propane Partners will post 1.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Founders Capital Management boosted its holdings in Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock worth $35,000 after acquiring an additional 677 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Suburban Propane Partners during the fourth quarter valued at approximately $37,000. Triumph Capital Management acquired a new position in shares of Suburban Propane Partners during the third quarter worth approximately $50,000. Advisory Services Network LLC acquired a new position in shares of Suburban Propane Partners during the third quarter worth approximately $62,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Suburban Propane Partners by 91.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,440 shares of the energy company’s stock worth $81,000 after purchasing an additional 2,121 shares in the last quarter. 30.94% of the stock is owned by institutional investors and hedge funds.

About Suburban Propane Partners

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.