Suburban Propane Partners (NYSE:SPH) Posts Earnings Results

Suburban Propane Partners (NYSE:SPH) posted its quarterly earnings data on Thursday. The energy company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11), Zacks reports. The company had revenue of $211.56 million for the quarter, compared to analyst estimates of $227.00 million. Suburban Propane Partners had a return on equity of 16.12% and a net margin of 6.79%.

Suburban Propane Partners Stock Performance

Shares of SPH stock traded up $0.35 on Friday, hitting $19.39. The company had a trading volume of 112,125 shares, compared to its average volume of 177,199. The firm has a market cap of $1.27 billion, a P/E ratio of 13.10 and a beta of 0.32. Suburban Propane Partners has a twelve month low of $16.92 and a twelve month high of $22.24. The company has a 50-day moving average price of $18.57 and a 200-day moving average price of $18.67. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90.

Suburban Propane Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 11th. Stockholders of record on Tuesday, November 4th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Tuesday, November 4th. Suburban Propane Partners’s payout ratio is 79.27%.

Institutional Investors Weigh In On Suburban Propane Partners

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Suburban Propane Partners by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock valued at $28,795,000 after purchasing an additional 142,547 shares in the last quarter. Jane Street Group LLC purchased a new position in Suburban Propane Partners in the second quarter valued at $2,278,000. Bank of America Corp DE raised its position in shares of Suburban Propane Partners by 65.7% in the second quarter. Bank of America Corp DE now owns 98,158 shares of the energy company’s stock worth $1,819,000 after acquiring an additional 38,937 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Suburban Propane Partners by 101.2% during the 2nd quarter. Corient Private Wealth LLC now owns 29,176 shares of the energy company’s stock worth $541,000 after acquiring an additional 14,674 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Suburban Propane Partners by 15.7% during the 3rd quarter. Private Advisor Group LLC now owns 74,437 shares of the energy company’s stock valued at $1,388,000 after acquiring an additional 10,111 shares during the period. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Suburban Propane Partners in a research note on Wednesday, October 8th. Wall Street Zen cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Suburban Propane Partners presently has a consensus rating of “Hold”.

About Suburban Propane Partners

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.