Suburban Propane Partners (NYSE:SPH) Stock Rating Lowered by Zacks Research

Suburban Propane Partners (NYSE:SPH) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings cut shares of Suburban Propane Partners from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Suburban Propane Partners Trading Down 0.7%

NYSE:SPH opened at $17.40 on Monday. The stock has a fifty day moving average price of $17.91 and a two-hundred day moving average price of $18.94. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.14 and a beta of 0.41. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.52 and a current ratio of 0.78. Suburban Propane Partners has a 1 year low of $16.53 and a 1 year high of $20.80.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, August 6th. The energy company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.11). Suburban Propane Partners had a return on equity of 18.57% and a net margin of 9.37%.The company had revenue of $261.38 million for the quarter, compared to analysts’ expectations of $255.00 million. As a group, sell-side analysts anticipate that Suburban Propane Partners will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Suburban Propane Partners news, VP Bryon L. Koepke sold 2,848 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $17.65, for a total transaction of $50,267.20. Following the completion of the transaction, the vice president directly owned 100,714 shares in the company, valued at approximately $1,777,602.10. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Suburban Propane Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its position in shares of Suburban Propane Partners by 11.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,175 shares of the energy company’s stock valued at $133,000 after purchasing an additional 757 shares during the last quarter. Aristides Capital LLC lifted its stake in Suburban Propane Partners by 4.3% in the 4th quarter. Aristides Capital LLC now owns 21,174 shares of the energy company’s stock valued at $393,000 after buying an additional 880 shares in the last quarter. Wealthstar Advisors LLC lifted its stake in Suburban Propane Partners by 4.7% in the 2nd quarter. Wealthstar Advisors LLC now owns 34,162 shares of the energy company’s stock valued at $584,000 after buying an additional 1,538 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Suburban Propane Partners by 3.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 54,517 shares of the energy company’s stock valued at $1,011,000 after buying an additional 1,587 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in Suburban Propane Partners during the 2nd quarter valued at $29,000. Hedge funds and other 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.