Suburban Propane Partners (NYSE:SPH) Upgraded at Argus

Suburban Propane Partners (NYSE:SPH) was upgraded by investment analysts at Argus to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Suburban Propane Partners in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Suburban Propane Partners Stock Performance

Shares of SPH opened at $19.53 on Wednesday. The firm has a market capitalization of $1.29 billion, a PE ratio of 11.91 and a beta of 0.41. The company has a quick ratio of 0.31, a current ratio of 0.55 and a debt-to-equity ratio of 2.02. The firm has a 50-day moving average price of $18.92 and a 200 day moving average price of $18.65. Suburban Propane Partners has a 52-week low of $17.30 and a 52-week high of $22.24.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, November 13th. The energy company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The company had revenue of $211.38 million during the quarter, compared to analyst estimates of $227.00 million. Suburban Propane Partners had a return on equity of 16.31% and a net margin of 7.44%.

Hedge Funds Weigh In On Suburban Propane Partners

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Suburban Propane Partners by 11.6% during the first 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 during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Suburban Propane Partners by 7.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 20,063 shares of the energy company’s stock worth $369,000 after buying an additional 1,460 shares during the period. Janney Montgomery Scott LLC lifted its stake in Suburban Propane Partners by 9.8% during the second quarter. Janney Montgomery Scott LLC now owns 55,404 shares of the energy company’s stock valued at $1,027,000 after buying an additional 4,932 shares in the last quarter. Wealthstar Advisors LLC lifted its stake in Suburban Propane Partners by 7.7% during the second quarter. Wealthstar Advisors LLC now owns 36,771 shares of the energy company’s stock valued at $681,000 after buying an additional 2,635 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Suburban Propane Partners in the second quarter worth about $103,000. 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.