Suburban Propane Partners (NYSE:SPH) Raised to Buy at Wall Street Zen

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

A number of other research firms have also recently issued reports on SPH. Weiss Ratings cut shares of Suburban Propane Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Zacks Research lowered shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Suburban Propane Partners Stock Up 0.4%

SPH opened at $17.58 on Friday. Suburban Propane Partners has a 1-year low of $16.53 and a 1-year high of $20.80. The stock’s fifty day simple moving average is $18.87 and its 200 day simple moving average is $19.40. 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 $1.17 billion, a PE ratio of 8.83 and a beta of 0.42.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Founders Capital Management lifted its holdings in shares of Suburban Propane Partners by 56.4% during 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 in the last quarter. Wealthstar Advisors LLC grew its stake 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 valued at $616,000 after acquiring an additional 714 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake 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 valued at $133,000 after acquiring an additional 757 shares in the last quarter. Allworth Financial LP grew its stake 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 valued at $231,000 after acquiring an additional 860 shares in the last quarter. Finally, Aristides Capital LLC increased its position in Suburban Propane Partners by 4.3% during the fourth quarter. Aristides Capital LLC now owns 21,174 shares of the energy company’s stock worth $393,000 after acquiring an additional 880 shares during the period. Institutional investors own 30.94% of the company’s stock.

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.