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

StockNews.com upgraded shares of Suburban Propane Partners (NYSE:SPHFree Report) from a hold rating to a buy rating in a research report sent to investors on Friday.

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

View Our Latest Research Report on SPH

Suburban Propane Partners Price Performance

Shares of SPH opened at $18.52 on Friday. The firm has a fifty day simple moving average of $19.58 and a two-hundred day simple moving average of $19.40. The firm has a market cap of $1.19 billion, a PE ratio of 10.96 and a beta of 0.46. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 1.89. Suburban Propane Partners has a 1-year low of $14.42 and a 1-year high of $22.33.

Suburban Propane Partners (NYSE:SPHGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $1.72 EPS for the quarter. The company 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 business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.30 annualized dividend and a yield of 7.02%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 76.92%.

Insiders Place Their Bets

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 39,515 shares in the company, valued at approximately $757,897.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Suburban Propane Partners

A number of institutional investors have recently bought and sold shares of SPH. Clearbridge Investments LLC boosted its stake in shares of Suburban Propane Partners by 18.0% in the third quarter. Clearbridge Investments LLC now owns 679,479 shares of the energy company’s stock worth $10,906,000 after acquiring an additional 103,461 shares during the period. UBS Group AG boosted its position in shares of Suburban Propane Partners by 428.9% during the fourth quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock worth $6,930,000 after acquiring an additional 316,430 shares during the last quarter. Blackstone Inc. grew its stake in Suburban Propane Partners by 3.0% during the first quarter. Blackstone Inc. now owns 338,281 shares of the energy company’s stock valued at $6,911,000 after acquiring an additional 10,000 shares in the last quarter. Foundry Partners LLC increased its holdings in Suburban Propane Partners by 11.9% in the 1st quarter. Foundry Partners LLC now owns 210,111 shares of the energy company’s stock valued at $4,293,000 after acquiring an additional 22,368 shares during the last quarter. Finally, Fractal Investments LLC lifted its stake in Suburban Propane Partners by 1,090.4% in 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 in the last quarter. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

(Get Free Report)

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.

Further Reading

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