Suburban Propane Partners (NYSE:SPH) Stock Passes Above 200 Day Moving Average – Here’s Why

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.59 and traded as high as $19.85. Suburban Propane Partners shares last traded at $19.55, with a volume of 82,561 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPH. Zacks Research downgraded Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings restated a “buy (b)” rating on shares of Suburban Propane Partners in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Suburban Propane Partners Price Performance

The stock has a market cap of $1.28 billion, a P/E ratio of 9.73 and a beta of 0.42. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 1.08. The business has a 50 day simple moving average of $19.78 and a 200-day simple moving average of $19.59.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, May 7th. The energy company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.32. The firm had revenue of $551.21 million during 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%. On average, sell-side analysts forecast that Suburban Propane Partners, L.P. will post 1.8 EPS for the current year.

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Suburban Propane Partners’s dividend payout ratio is currently 65.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPH. PNC Financial Services Group Inc. raised its holdings in shares of Suburban Propane Partners by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 45,946 shares of the energy company’s stock valued at $857,000 after acquiring an additional 592 shares in the last quarter. Founders Capital Management raised its holdings in shares of Suburban Propane Partners by 56.4% in the 3rd quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after acquiring an additional 677 shares in the last quarter. Wealthstar Advisors LLC raised its holdings in shares of Suburban Propane Partners by 2.2% in the 4th quarter. Wealthstar Advisors LLC now owns 33,239 shares of the energy company’s stock valued at $616,000 after acquiring an additional 714 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Suburban Propane Partners by 11.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,175 shares of the energy company’s stock valued at $133,000 after acquiring an additional 757 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Suburban Propane Partners by 7.5% in the 3rd quarter. Allworth Financial LP now owns 12,374 shares of the energy company’s stock valued at $231,000 after acquiring an additional 860 shares in the last quarter. Hedge funds and other institutional investors 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.