Zacks Research Downgrades Suburban Propane Partners (NYSE:SPH) to Hold

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

A number of other equities analysts also recently weighed in on SPH. Weiss Ratings reiterated a “buy (b)” rating on shares of Suburban Propane Partners in a report on Monday. Argus upgraded Suburban Propane Partners to a “strong-buy” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Suburban Propane Partners Price Performance

Shares of SPH opened at $20.42 on Tuesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.26 and a beta of 0.42. Suburban Propane Partners has a fifty-two week low of $17.30 and a fifty-two week high of $20.80. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.08 and a quick ratio of 0.82. The business’s 50-day moving average is $19.86 and its 200-day moving average is $19.51.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, May 7th. The energy company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.32. The company had revenue of $551.21 million for the quarter, compared to the consensus estimate of $575.00 million. Suburban Propane Partners had a return on equity of 19.45% and a net margin of 9.57%. Equities research analysts expect that Suburban Propane Partners will post 1.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Suburban Propane Partners

A number of hedge funds have recently added to or reduced their stakes in SPH. Founders Capital Management increased its holdings in Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock worth $35,000 after buying an additional 677 shares during the last quarter. Truvestments Capital LLC acquired a new position in Suburban Propane Partners in the fourth quarter worth approximately $37,000. Triumph Capital Management acquired a new position in Suburban Propane Partners in the third quarter worth approximately $50,000. Advisory Services Network LLC acquired a new position in Suburban Propane Partners in the third quarter worth approximately $62,000. Finally, Root Financial Partners LLC acquired a new position in Suburban Propane Partners in the third quarter worth approximately $76,000. Institutional investors and hedge funds 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.