Suburban Propane Partners (NYSE:SPH) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded ZEALAND PHARMA/S from a sell rating to a hold rating in a report on Friday, March 15th. TheStreet upgraded Voya Financial from a c+ rating to a b- rating in a report on Friday, April 5th.

Shares of SPH stock opened at $23.68 on Friday. The stock has a 50-day moving average price of $23.64. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.02 and a current ratio of 1.30. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 4.91 and a beta of 0.87. Suburban Propane Partners has a 12 month low of $18.63 and a 12 month high of $24.63.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, May 9th. The energy company reported $1.94 EPS for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.08. Suburban Propane Partners had a return on equity of 15.24% and a net margin of 6.18%. The firm had revenue of $504.38 million during the quarter, compared to analyst estimates of $556.16 million. On average, analysts expect that Suburban Propane Partners will post 1.21 EPS for the current year.

In other Suburban Propane Partners news, CFO Michael Kuglin sold 5,835 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.41, for a total transaction of $136,597.35. Following the transaction, the chief financial officer now owns 76,604 shares in the company, valued at $1,793,299.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Daniel S. Bloomstein sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $24.30, for a total value of $72,900.00. Following the transaction, the vice president now owns 24,778 shares in the company, valued at approximately $602,105.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,218 shares of company stock worth $767,675. Company insiders own 0.75% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC lifted its holdings in shares of Suburban Propane Partners by 100.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,596 shares of the energy company’s stock valued at $36,000 after purchasing an additional 800 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Suburban Propane Partners by 4,458.1% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,960 shares of the energy company’s stock valued at $38,000 after acquiring an additional 1,917 shares in the last quarter. Advisory Services Network LLC lifted its stake in Suburban Propane Partners by 79.0% in the 4th quarter. Advisory Services Network LLC now owns 2,287 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,009 shares in the last quarter. Hanson McClain Inc. lifted its stake in Suburban Propane Partners by 912.9% in the 1st quarter. Hanson McClain Inc. now owns 2,441 shares of the energy company’s stock valued at $55,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Suburban Propane Partners in the 1st quarter valued at approximately $70,000. Hedge funds and other institutional investors own 31.10% 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. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The 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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