Suburban Propane Partners LP (NYSE:SPH) Sees Large Decrease in Short Interest

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Suburban Propane Partners LP (NYSE:SPH) was the recipient of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 372,800 shares, a decline of 31.2% from the November 14th total of 542,100 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 150,300 shares, the short-interest ratio is presently 2.5 days.

Hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in Suburban Propane Partners in the second quarter worth $25,000. Resources Management Corp CT ADV purchased a new stake in Suburban Propane Partners in the third quarter worth $34,000. US Bancorp DE grew its stake in Suburban Propane Partners by 28.4% in the second quarter. US Bancorp DE now owns 4,525 shares of the energy company’s stock worth $110,000 after purchasing an additional 1,000 shares during the period. Marshall Wace LLP purchased a new stake in Suburban Propane Partners in the first quarter worth $112,000. Finally, Centaurus Financial Inc. grew its stake in Suburban Propane Partners by 4,371.9% in the second quarter. Centaurus Financial Inc. now owns 6,216 shares of the energy company’s stock worth $151,000 after purchasing an additional 6,077 shares during the period. 31.16% of the stock is currently owned by institutional investors.

SPH has been the topic of several research analyst reports. Zacks Investment Research cut Suburban Propane Partners from a “buy” rating to a “strong sell” rating in a research note on Wednesday, November 20th. ValuEngine raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

Shares of SPH traded up $0.48 during mid-day trading on Friday, hitting $22.44. 382,455 shares of the company’s stock traded hands, compared to its average volume of 171,537. The company has a quick ratio of 0.36, a current ratio of 0.57 and a debt-to-equity ratio of 2.90. Suburban Propane Partners has a 1 year low of $18.63 and a 1 year high of $24.89. The firm has a market capitalization of $1.37 billion, a P/E ratio of 20.40, a PEG ratio of 4.07 and a beta of 0.86. The business’s 50-day moving average price is $23.05 and its 200-day moving average price is $23.42.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, November 14th. The energy company reported ($0.82) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.06). The firm had revenue of $172.01 million during the quarter, compared to analysts’ expectations of $192.00 million. Suburban Propane Partners had a return on equity of 13.73% and a net margin of 5.41%. Sell-side analysts anticipate that Suburban Propane Partners will post 1.36 earnings per share for the current fiscal year.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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