Suburban Propane Partners (NYSE:SPH) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Separately, Argus boosted their target price on Suburban Propane Partners from $24.00 to $25.00 and gave the stock a buy rating in a research report on Monday, June 10th.

Suburban Propane Partners Stock Up 0.1 %

Shares of Suburban Propane Partners stock opened at $18.76 on Wednesday. Suburban Propane Partners has a 1-year low of $14.42 and a 1-year high of $22.33. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.65. The business’s fifty day moving average price is $19.39 and its two-hundred day moving average price is $19.51. The company has a market capitalization of $1.20 billion, a P/E ratio of 11.10 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $1.72 EPS for the quarter. The company had revenue of $498.09 million for the quarter. Suburban Propane Partners had a return on equity of 18.91% and a net margin of 8.02%.

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.325 per share. The ex-dividend date was Monday, May 6th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.93%. Suburban Propane Partners’s dividend payout ratio is 76.92%.

Insider Activity

In other news, Director Harold R. Logan, Jr. sold 3,000 shares of Suburban Propane Partners stock in a transaction on Friday, May 24th. The stock was sold at an average price of $19.18, for a total transaction of $57,540.00. Following the transaction, the director now owns 39,515 shares in the company, valued at $757,897.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SPH. CWM LLC grew its stake in Suburban Propane Partners by 52.1% in the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after purchasing an additional 734 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Suburban Propane Partners by 64.5% in the first quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Suburban Propane Partners by 16.5% in the fourth quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock valued at $74,000 after purchasing an additional 591 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in Suburban Propane Partners in the fourth quarter valued at about $178,000. Finally, LRI Investments LLC purchased a new position in Suburban Propane Partners in the first quarter valued at about $255,000. Hedge funds and other institutional investors own 30.94% 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, 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.