Suburban Propane Partners (NYSE:SPH) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Suburban Propane Partners (NYSE:SPH) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

SPH has been the topic of a number of other reports. Argus upgraded Suburban Propane Partners to a “strong-buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Suburban Propane Partners in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Suburban Propane Partners Stock Down 0.1%

NYSE:SPH opened at $20.42 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The stock’s fifty day moving average is $19.86 and its two-hundred day moving average is $19.51. Suburban Propane Partners has a 52 week low of $17.30 and a 52 week high of $20.80. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.26 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, May 7th. The energy company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.32. Suburban Propane Partners had a return on equity of 19.45% and a net margin of 9.57%.The company had revenue of $551.21 million for the quarter, compared to analysts’ expectations of $575.00 million. Research analysts anticipate that Suburban Propane Partners will post 1.8 EPS for the current year.

Suburban Propane Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Tuesday, May 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 65.33%.

Institutional Trading of Suburban Propane Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of SPH. Founders Capital Management raised its stake in Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after buying an additional 677 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Suburban Propane Partners in the fourth quarter valued at $37,000. Triumph Capital Management acquired a new stake in Suburban Propane Partners in the third quarter valued at $50,000. Advisory Services Network LLC acquired a new stake in Suburban Propane Partners in the third quarter valued at $62,000. Finally, Root Financial Partners LLC acquired a new stake in Suburban Propane Partners in the third quarter valued at $76,000. 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.