Suburban Propane Partners (NYSE:SPH) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.60 and traded as high as $19.62. Suburban Propane Partners shares last traded at $19.2650, with a volume of 93,409 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on SPH shares. Zacks Research downgraded shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings restated a “buy (b)” rating on shares of Suburban Propane Partners in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Suburban Propane Partners Trading Down 0.8%

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.68 and a beta of 0.40. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The company’s 50 day simple moving average is $19.67 and its two-hundred day simple moving average is $19.60.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, May 7th. The energy company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.32. The company had revenue of $551.21 million during the quarter, compared to the consensus estimate of $575.00 million. Suburban Propane Partners had a net margin of 9.57% and a return on equity of 19.45%. As a group, research analysts anticipate that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current fiscal year.

Suburban Propane Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.7%. The ex-dividend date was Tuesday, May 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is 65.33%.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Suburban Propane Partners by 1.3% in the third quarter. PNC Financial Services Group Inc. now owns 45,946 shares of the energy company’s stock worth $857,000 after buying an additional 592 shares during the last quarter. Founders Capital Management raised its holdings in shares of 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 buying an additional 677 shares during the last quarter. Wealthstar Advisors LLC raised its holdings in shares of Suburban Propane Partners by 2.2% in the fourth quarter. Wealthstar Advisors LLC now owns 33,239 shares of the energy company’s stock worth $616,000 after buying an additional 714 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Suburban Propane Partners by 11.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,175 shares of the energy company’s stock worth $133,000 after buying an additional 757 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Suburban Propane Partners by 7.5% in the third quarter. Allworth Financial LP now owns 12,374 shares of the energy company’s stock worth $231,000 after buying an additional 860 shares during the last quarter. 30.94% of the stock is currently owned by institutional investors and hedge funds.

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.