StockNews.com Lowers Suburban Propane Partners (NYSE:SPH) to Hold

StockNews.com downgraded shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

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

Suburban Propane Partners Stock Performance

Shares of Suburban Propane Partners stock opened at $18.69 on Friday. The business’s fifty day simple moving average is $19.32 and its 200 day simple moving average is $19.62. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 1.89. Suburban Propane Partners has a 12 month low of $14.42 and a 12 month high of $22.33. The firm has a market capitalization of $1.20 billion, a P/E ratio of 11.06 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH) last released its earnings results 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.96%. The ex-dividend date is Tuesday, August 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is 76.92%.

Insider Buying and Selling at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 3,000 shares of the 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 completion of the transaction, the director now directly owns 39,515 shares of the company’s stock, valued at $757,897.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Suburban Propane Partners

A number of large investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its holdings in shares of Suburban Propane Partners by 16.5% in the fourth quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock worth $74,000 after acquiring an additional 591 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Suburban Propane Partners by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock worth $977,000 after acquiring an additional 624 shares during the period. CWM LLC boosted its holdings in shares of Suburban Propane Partners by 52.1% in the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock worth $41,000 after acquiring an additional 734 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of 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 worth $52,000 after acquiring an additional 1,000 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Suburban Propane Partners by 2.2% in the fourth quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock worth $970,000 after acquiring an additional 1,200 shares during the period. 30.94% of the stock is owned by institutional investors.

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.