Citigroup Inc. upgraded shares of Suburban Propane Partners, L.P. (NYSE:SPH) from a neutral rating to a buy rating in a research report sent to investors on Thursday, MarketBeat reports. They currently have $27.00 price target on the energy company’s stock, down from their prior price target of $32.00.

SPH has been the topic of a number of other reports. Zacks Investment Research lowered Suburban Propane Partners, L.P. from a hold rating to a strong sell rating in a research report on Tuesday, July 18th. BidaskClub lowered Suburban Propane Partners, L.P. from a hold rating to a sell rating in a research report on Friday, June 23rd. ValuEngine lowered Suburban Propane Partners, L.P. from a hold rating to a sell rating in a research report on Friday, June 2nd. Finally, Stifel Nicolaus restated a hold rating and issued a $25.00 price target on shares of Suburban Propane Partners, L.P. in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $30.80.

Shares of Suburban Propane Partners, L.P. (NYSE SPH) traded down 2.1111% during midday trading on Thursday, hitting $23.9632. The stock had a trading volume of 107,501 shares. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 51.4232 and a beta of 0.63. Suburban Propane Partners, L.P. has a 52 week low of $22.71 and a 52 week high of $34.55. The stock has a 50 day moving average price of $24.37 and a 200-day moving average price of $26.03.

Suburban Propane Partners, L.P. (NYSE:SPH) last announced its quarterly earnings data on Thursday, May 4th. The energy company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.82 by $0.46. The firm had revenue of $450.58 million during the quarter, compared to the consensus estimate of $503.38 million. Suburban Propane Partners, L.P. had a net margin of 2.51% and a return on equity of 3.86%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.51 earnings per share. Equities research analysts anticipate that Suburban Propane Partners, L.P. will post $0.71 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was originally published by Watch List News and is owned by of Watch List News. If you are reading this story on another domain, it was illegally copied and reposted in violation of US & international copyright law. The legal version of this story can be read at https://www.watchlistnews.com/suburban-propane-partners-l-p-sph-raised-to-buy-at-citigroup-inc/1463858.html.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 8th. Stockholders of record on Tuesday, August 1st will be given a $0.8875 dividend. This is a positive change from Suburban Propane Partners, L.P.’s previous quarterly dividend of $0.89. This represents a $3.55 annualized dividend and a dividend yield of 14.50%. The ex-dividend date of this dividend is Friday, July 28th. Suburban Propane Partners, L.P.’s dividend payout ratio (DPR) is currently 806.82%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Camarda Financial Advisors LLC raised its position in Suburban Propane Partners, L.P. by 33.1% in the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock valued at $126,000 after buying an additional 1,314 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Suburban Propane Partners, L.P. by 56.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock valued at $207,000 after buying an additional 2,777 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Suburban Propane Partners, L.P. during the first quarter valued at about $189,000. Snow Capital Management LP bought a new position in Suburban Propane Partners, L.P. during the first quarter valued at about $250,000. Finally, First Financial Equity Corporation bought a new position in Suburban Propane Partners, L.P. during the first quarter valued at about $276,000. Institutional investors and hedge funds own 28.39% of the company’s stock.

Suburban Propane Partners, L.P. Company Profile

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

Receive News & Ratings for Suburban Propane Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suburban Propane Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.