Suburban Propane Partners (NYSE:SPH) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price crossed 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 changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Zacks Research downgraded 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 assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Suburban Propane Partners Stock Down 0.8%

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 firm’s 50-day moving average price is $19.67 and its 200 day moving average price is $19.60. The firm has a market cap of $1.28 billion, a P/E ratio of 9.68 and a beta of 0.40.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, May 7th. The energy company reported $2.06 EPS for the quarter, topping the consensus estimate 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 business had revenue of $551.21 million for the quarter, compared to analysts’ expectations of $575.00 million. On average, equities research analysts expect that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current fiscal year.

Suburban Propane Partners Dividend Announcement

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

Hedge Funds Weigh In On Suburban Propane Partners

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in 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 acquiring an additional 592 shares during the last quarter. Founders Capital Management lifted 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 during the last quarter. Wealthstar Advisors LLC lifted its holdings in 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 acquiring an additional 714 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in 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 acquiring an additional 757 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in 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 acquiring an additional 860 shares during the last quarter. 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.