Zacks Investment Research upgraded shares of Suburban Propane Partners (NYSE:SPH) from a sell rating to a hold rating in a research note released on Saturday.

According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “

Separately, ValuEngine cut Suburban Propane Partners from a sell rating to a strong sell rating in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $27.00.

SPH traded up $0.55 during trading hours on Friday, reaching $23.91. The company’s stock had a trading volume of 635,985 shares, compared to its average volume of 168,018. Suburban Propane Partners has a 52 week low of $21.85 and a 52 week high of $27.05. The company has a current ratio of 1.41, a quick ratio of 1.11 and a debt-to-equity ratio of 2.04. The stock has a market cap of $1.43 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 5.67 and a beta of 0.60.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings results on Thursday, August 9th. The energy company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.20. Suburban Propane Partners had a return on equity of 13.25% and a net margin of 5.69%. The business had revenue of $241.90 million for the quarter, compared to analysts’ expectations of $253.17 million. During the same quarter in the prior year, the business earned ($0.48) EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts forecast that Suburban Propane Partners will post 1.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 10.04%. The ex-dividend date of this dividend is Monday, August 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 342.86%.

In other Suburban Propane Partners news, COO Steven C. Boyd sold 8,500 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $23.51, for a total transaction of $199,835.00. Following the transaction, the chief operating officer now owns 94,441 shares in the company, valued at approximately $2,220,307.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harold R. Logan, Jr. sold 4,200 shares of the stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $23.47, for a total value of $98,574.00. Following the transaction, the director now owns 17,876 shares in the company, valued at approximately $419,549.72. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its holdings in shares of Suburban Propane Partners by 3.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 81,906 shares of the energy company’s stock worth $1,924,000 after purchasing an additional 2,913 shares in the last quarter. Lee Financial Co grew its holdings in shares of Suburban Propane Partners by 98.3% during the 1st quarter. Lee Financial Co now owns 6,454 shares of the energy company’s stock worth $142,000 after purchasing an additional 3,200 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Suburban Propane Partners by 35.7% during the 1st quarter. Private Advisor Group LLC now owns 12,488 shares of the energy company’s stock worth $275,000 after purchasing an additional 3,282 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Suburban Propane Partners during the 4th quarter worth $106,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Suburban Propane Partners by 16.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,573 shares of the energy company’s stock worth $783,000 after purchasing an additional 4,944 shares in the last quarter. Hedge funds and other institutional investors own 28.95% of the company’s stock.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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