Suburban Propane Partners (NYSE:SPH) Downgraded by StockNews.com

StockNews.com lowered shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a research note published on Tuesday morning.

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

Suburban Propane Partners Price Performance

Shares of NYSE SPH opened at $17.08 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. The company has a 50 day simple moving average of $18.75 and a two-hundred day simple moving average of $19.54. Suburban Propane Partners has a fifty-two week low of $14.45 and a fifty-two week high of $22.33. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.11 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.10). Suburban Propane Partners had a net margin of 7.28% and a return on equity of 16.69%. The company had revenue of $254.61 million for the quarter.

Suburban Propane Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.30 dividend on an annualized basis and a yield of 7.61%. Suburban Propane Partners’s dividend payout ratio (DPR) is 76.92%.

Insider Buying and Selling

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $19.18, for a total transaction of $57,540.00. Following the completion of the sale, the director now directly 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 this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Suburban Propane Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its stake in shares of Suburban Propane Partners by 1.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock worth $977,000 after acquiring an additional 624 shares during the last quarter. CWM LLC lifted its position in shares of Suburban Propane Partners by 52.1% during the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after buying an additional 734 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Suburban Propane Partners by 64.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock valued at $52,000 after acquiring an additional 1,000 shares during the period. Private Advisor Group LLC raised its stake in Suburban Propane Partners by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock worth $970,000 after acquiring an additional 1,200 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in Suburban Propane Partners by 28.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock worth $470,000 after acquiring an additional 5,113 shares during the period. 30.94% of the stock is owned by hedge funds and other institutional investors.

About Suburban Propane Partners

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.