Suburban Propane Partners (NYSE:SPH) Upgraded at StockNews.com

StockNews.com upgraded shares of Suburban Propane Partners (NYSE:SPH) from a hold rating to a buy rating in a research report released on Thursday morning.

Separately, Argus lifted their price target on Suburban Propane Partners from $24.00 to $25.00 and gave the company a buy rating in a research note on Monday, June 10th.

Suburban Propane Partners Stock Performance

NYSE SPH opened at $18.73 on Thursday. The stock has a 50-day simple moving average of $19.33 and a two-hundred day simple moving average of $19.57. The firm has a market capitalization of $1.20 billion, a P/E ratio of 11.08 and a beta of 0.44. Suburban Propane Partners has a fifty-two week low of $14.42 and a fifty-two week high of $22.33. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.65 and a current ratio of 0.88.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings data on Thursday, May 9th. The energy company reported $1.72 earnings per share for the quarter. The business had revenue of $498.09 million during the quarter. Suburban Propane Partners had a return on equity of 18.91% and a net margin of 8.02%.

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were paid a $0.325 dividend. The ex-dividend date was Monday, May 6th. This represents a $1.30 annualized dividend and a dividend yield of 6.94%. Suburban Propane Partners’s dividend payout ratio is presently 76.92%.

Insider Activity at Suburban Propane Partners

In related news, Director Harold R. Logan, Jr. sold 3,000 shares of Suburban Propane Partners stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $19.18, for a total value of $57,540.00. Following the completion of the transaction, the director now owns 39,515 shares in the company, valued at approximately $757,897.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently bought and sold shares of the company. Fractal Investments LLC boosted its holdings in shares of Suburban Propane Partners by 1,090.4% during the 4th quarter. Fractal Investments LLC now owns 207,425 shares of the energy company’s stock worth $3,684,000 after purchasing an additional 190,000 shares during the last quarter. Custom Index Systems LLC acquired a new position in shares of Suburban Propane Partners during the 4th quarter worth approximately $1,679,000. Blackstone Inc. boosted its holdings in shares of Suburban Propane Partners by 27.1% during the 4th quarter. Blackstone Inc. now owns 328,281 shares of the energy company’s stock worth $5,830,000 after purchasing an additional 70,000 shares during the last quarter. UBS Group AG boosted its holdings in shares of Suburban Propane Partners by 428.9% during the 4th quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock worth $6,930,000 after purchasing an additional 316,430 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Suburban Propane Partners during the 4th quarter worth approximately $318,000. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.