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

StockNews.com cut shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a report released on Tuesday.

Separately, Argus raised their price target 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 Up 2.0 %

Shares of NYSE SPH opened at $17.08 on Tuesday. Suburban Propane Partners has a 52-week low of $14.45 and a 52-week high of $22.33. The business’s 50 day moving average is $18.75 and its two-hundred day moving average is $19.54. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 10.11 and a beta of 0.44. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98.

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

Suburban Propane Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.30 annualized dividend and a dividend yield of 7.61%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 76.92%.

Insider Activity at Suburban Propane Partners

In related news, Director Harold R. Logan, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $19.18, for a total value of $57,540.00. Following the completion of the sale, the director now directly owns 39,515 shares of the company’s stock, valued at approximately $757,897.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised 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 valued at $41,000 after buying an additional 734 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Suburban Propane Partners by 64.5% during the 1st 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. Biechele Royce Advisors purchased a new position in shares of Suburban Propane Partners in the 2nd quarter valued at approximately $211,000. LRI Investments LLC purchased a new stake in shares of Suburban Propane Partners during the first quarter worth approximately $255,000. Finally, Kingsview Wealth Management LLC purchased a new position in Suburban Propane Partners in the 1st quarter valued at $295,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

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.