Bank of America Corp DE lowered its holdings in Suburban Propane Partners LP (NYSE:SPH) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 198,315 shares of the energy company’s stock after selling 12,663 shares during the quarter. Bank of America Corp DE’s holdings in Suburban Propane Partners were worth $4,817,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Suburban Propane Partners during the second quarter worth $25,000. NEXT Financial Group Inc bought a new stake in shares of Suburban Propane Partners during the second quarter worth $27,000. Mcmillion Capital Management Inc. bought a new stake in shares of Suburban Propane Partners during the second quarter worth $48,000. US Bancorp DE raised its position in shares of Suburban Propane Partners by 28.4% during the second quarter. US Bancorp DE now owns 4,525 shares of the energy company’s stock worth $110,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Suburban Propane Partners during the first quarter worth $112,000. 31.16% of the stock is currently owned by institutional investors.
SPH has been the subject of a number of recent research reports. Zacks Investment Research upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. ValuEngine downgraded Suburban Propane Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.
SPH stock opened at $23.24 on Tuesday. The company has a market cap of $1.43 billion, a P/E ratio of 18.74, a PEG ratio of 4.07 and a beta of 0.88. Suburban Propane Partners LP has a twelve month low of $18.63 and a twelve month high of $24.89. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 2.42. The business has a fifty day moving average of $23.51 and a 200-day moving average of $23.42.
Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, August 8th. The energy company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). The firm had revenue of $214.21 million for the quarter, compared to the consensus estimate of $215.76 million. Suburban Propane Partners had a return on equity of 13.31% and a net margin of 5.34%. As a group, equities research analysts anticipate that Suburban Propane Partners LP will post 1.17 earnings per share for the current fiscal year.
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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