Suburban Propane Partners (NYSE:SPH) Sets New 12-Month Low – Should You Sell?

Suburban Propane Partners, L.P. (NYSE:SPH) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $17.22 and last traded at $17.3650, with a volume of 49449 shares. The stock had previously closed at $17.45.

Analysts Set New Price Targets

Several brokerages have weighed in on SPH. Wall Street Zen raised shares of Suburban Propane Partners from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research cut shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suburban Propane Partners in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Suburban Propane Partners Trading Down 1.2%

The business’s 50-day moving average price is $19.50 and its two-hundred day moving average price is $19.60. The company has a market capitalization of $1.14 billion, a P/E ratio of 8.67 and a beta of 0.40. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.82.

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

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Tuesday, May 5th. Suburban Propane Partners’s payout ratio is 65.33%.

Hedge Funds Weigh In On Suburban Propane Partners

Several institutional investors have recently modified their holdings of SPH. Alps Advisors Inc. lifted its holdings in shares of Suburban Propane Partners by 5.1% during the 4th quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock valued at $279,049,000 after purchasing an additional 724,170 shares in the last quarter. Bowen Hanes & Co. Inc. lifted its holdings in shares of Suburban Propane Partners by 24.5% during the 3rd quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after purchasing an additional 200,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Suburban Propane Partners by 4.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock valued at $77,912,000 after purchasing an additional 192,154 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Suburban Propane Partners by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock valued at $28,795,000 after purchasing an additional 142,547 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Suburban Propane Partners during the 2nd quarter valued at about $2,278,000. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

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.