Suburban Propane Partners (NYSE:SPH) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a research note issued to investors on Friday.

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

Suburban Propane Partners Stock Down 1.0 %

Shares of SPH opened at $18.51 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of 10.95 and a beta of 0.44. The stock has a 50 day simple moving average of $19.31 and a two-hundred day simple moving average of $19.63. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.65. Suburban Propane Partners has a 1 year low of $14.42 and a 1 year high of $22.33.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, May 9th. The energy company reported $1.72 earnings per share (EPS) for the quarter. The business 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date of this dividend is Tuesday, August 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 76.92%.

Insider Activity

In related news, Director Harold R. Logan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $19.18, for a total transaction of $57,540.00. Following the completion of the transaction, the director now owns 39,515 shares in the company, valued at $757,897.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its holdings in Suburban Propane Partners by 16.5% in the fourth quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock worth $74,000 after purchasing an additional 591 shares in the last quarter. Spirit of America Management Corp NY bought a new position in Suburban Propane Partners in the fourth quarter worth $178,000. Custom Index Systems LLC bought a new position in Suburban Propane Partners in the fourth quarter worth $1,679,000. Koshinski Asset Management Inc. raised its holdings in Suburban Propane Partners by 100.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 22,000 shares of the energy company’s stock worth $391,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Fractal Investments LLC raised its holdings in Suburban Propane Partners by 1,090.4% in the fourth 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. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

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.