Suburban Propane Partners (NYSE:SPH) Stock Price Down 5.7% – Here’s Why

Suburban Propane Partners, L.P. (NYSE:SPH) fell 5.7% during trading on Friday . The stock traded as low as $17.85 and last traded at $17.87. 218,072 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 134,458 shares. The stock had previously closed at $18.95.

Analyst Upgrades and Downgrades

SPH has been the topic of a number of research analyst reports. Zacks Research cut Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research note 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. Finally, Wall Street Zen upgraded Suburban Propane Partners from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Suburban Propane Partners currently has an average rating of “Buy”.

Suburban Propane Partners Trading Down 5.8%

The business has a 50 day moving average of $19.55 and a two-hundred day moving average of $19.60. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 1.69. The firm has a market cap of $1.18 billion, a P/E ratio of 8.97 and a beta of 0.40.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly 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. Suburban Propane Partners had a return on equity of 19.45% and a net margin of 9.57%.The business had revenue of $551.21 million for the quarter, compared to analysts’ expectations of $575.00 million. Analysts predict that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current year.

Suburban Propane Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.325 per share. The ex-dividend date was Tuesday, May 5th. This represents a $1.30 annualized dividend and a yield of 7.3%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 65.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Suburban Propane Partners by 5.1% during the 4th quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock worth $279,049,000 after buying an additional 724,170 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Suburban Propane Partners by 4.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock worth $77,912,000 after buying an additional 192,154 shares during the period. Goldman Sachs Group Inc. increased its position in Suburban Propane Partners by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after buying an additional 142,547 shares during the period. JPMorgan Chase & Co. increased its position in Suburban Propane Partners by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,314,268 shares of the energy company’s stock worth $24,367,000 after buying an additional 61,818 shares during the period. Finally, Bowen Hanes & Co. Inc. increased its position in Suburban Propane Partners by 24.5% during the 3rd quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock worth $18,948,000 after buying an additional 200,000 shares during the period. Institutional investors own 30.94% of the company’s stock.

About Suburban Propane Partners

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.