Wells Fargo & Company Downgrades Suburban Propane Partners (NYSE:SPH) to Underweight

Suburban Propane Partners (NYSE:SPH) was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $17.00 target price on the energy company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 2.86% from the company’s current price.

Several other brokerages also recently issued reports on SPH. Argus lifted their target price on Suburban Propane Partners from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, June 10th. StockNews.com lowered shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.67.

Suburban Propane Partners Stock Performance

Shares of NYSE SPH opened at $17.50 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of 10.36 and a beta of 0.44. Suburban Propane Partners has a 1 year low of $14.45 and a 1 year high of $22.33. The firm has a fifty day moving average price of $18.26 and a 200-day moving average price of $19.38. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.65 and a quick ratio of 0.45.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.10). The firm had revenue of $254.61 million during the quarter. Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%.

Institutional Trading of Suburban Propane Partners

A number of large investors have recently added to or reduced their stakes in SPH. Janney Montgomery Scott LLC raised its position in shares of Suburban Propane Partners by 1.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock valued at $977,000 after buying an additional 624 shares in the last quarter. CWM LLC raised its position in Suburban Propane Partners by 52.1% during 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 during the period. Geneos Wealth Management Inc. raised its position in Suburban Propane Partners by 64.5% during 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 during the period. Private Advisor Group LLC lifted its stake in shares of Suburban Propane Partners by 2.2% in the 4th quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock valued at $970,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Suburban Propane Partners by 28.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock worth $470,000 after purchasing an additional 5,113 shares during the period. 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.