Suburban Propane Partners (NYSE:SPH) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Suburban Propane Partners, L.P. (NYSE:SPH) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.19 and traded as high as $20.52. Suburban Propane Partners shares last traded at $20.2970, with a volume of 109,819 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Zacks Research upgraded Suburban Propane Partners to a “hold” rating in a research note on Friday, January 23rd. Argus upgraded Suburban Propane Partners to a “strong-buy” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings raised Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Suburban Propane Partners Stock Performance

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.61 and a current ratio of 0.87. The stock’s fifty day moving average is $20.17 and its two-hundred day moving average is $19.22. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 10.00 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. The firm had revenue of $370.39 million during the quarter, compared to analyst estimates of $392.00 million.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd were given a dividend of $0.325 per share. The ex-dividend date was Tuesday, February 3rd. This represents a $1.30 annualized dividend and a dividend yield of 6.4%. Suburban Propane Partners’s payout ratio is currently 64.04%.

Institutional Trading of Suburban Propane Partners

Large investors have recently added to or reduced their stakes in the business. Founders Capital Management raised its stake in Suburban Propane Partners by 56.4% during the 3rd quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after acquiring an additional 677 shares in the last quarter. Truvestments Capital LLC acquired a new position in Suburban Propane Partners during the 4th quarter worth $37,000. Triumph Capital Management bought a new position in shares of Suburban Propane Partners in the third quarter worth $50,000. Advisory Services Network LLC acquired a new position in shares of Suburban Propane Partners during the third quarter valued at $62,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Suburban Propane Partners by 37.7% during the third quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock valued at $68,000 after purchasing an additional 1,000 shares during the period. 30.94% of the stock is currently owned by institutional investors and hedge funds.

About Suburban Propane Partners

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.