Suburban Propane Partners (NYSE:SPH) Trading Down 5.7% – What’s Next?

Suburban Propane Partners, L.P. (NYSE:SPH) dropped 5.7% during mid-day trading on Friday . The company traded as low as $17.85 and last traded at $17.87. Approximately 218,072 shares were traded during mid-day trading, an increase of 62% from the average daily volume of 134,458 shares. The stock had previously closed at $18.95.

Analysts Set New Price Targets

SPH has been the topic of a number of recent research reports. Zacks Research cut Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings reaffirmed 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Suburban Propane Partners Stock Down 5.7%

The business’s 50 day moving average is $19.59 and its 200 day moving average is $19.62. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 8.99 and a beta of 0.40.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.32. The business had revenue of $551.21 million during the quarter, compared to analyst estimates of $575.00 million. Suburban Propane Partners had a net margin of 9.57% and a return on equity of 19.45%. Equities analysts expect that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current 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 $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Tuesday, May 5th. Suburban Propane Partners’s dividend payout ratio is 65.33%.

Institutional Trading of Suburban Propane Partners

Hedge funds have recently made changes to their positions in the stock. Founders Capital Management increased its position in Suburban Propane Partners by 56.4% in the 3rd quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock worth $35,000 after purchasing an additional 677 shares during the last quarter. Truvestments Capital LLC acquired a new position in Suburban Propane Partners in the 4th quarter worth about $37,000. Triumph Capital Management acquired a new position in Suburban Propane Partners in the 3rd quarter worth about $50,000. Advisory Services Network LLC acquired a new position in Suburban Propane Partners in the 3rd quarter worth about $62,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Suburban Propane Partners by 91.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,440 shares of the energy company’s stock worth $81,000 after purchasing an additional 2,121 shares during the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

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.