BidaskClub Downgrades Suburban Propane Partners, L.P. (NYSE:SPH) to Sell

Suburban Propane Partners, L.P. (NYSE:SPH) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, July 12th.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Suburban Propane Partners, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine downgraded shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Suburban Propane Partners, L.P. to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Suburban Propane Partners, L.P. (NYSE:SPH) traded up 0.25% during midday trading on Wednesday, hitting $24.08. 440,064 shares of the stock traded hands. Suburban Propane Partners, L.P. has a one year low of $22.71 and a one year high of $34.50. The company has a market cap of $1.47 billion, a P/E ratio of 52.01 and a beta of 0.64. The company’s 50 day moving average is $24.42 and its 200-day moving average is $25.57.

Suburban Propane Partners, L.P. (NYSE:SPH) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.11. Suburban Propane Partners, L.P. had a net margin of 2.46% and a return on equity of 4.09%. The company had revenue of $222.90 million for the quarter, compared to the consensus estimate of $221.93 million. During the same quarter in the previous year, the company earned ($0.49) EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Suburban Propane Partners, L.P. will post $0.58 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new stake in shares of Suburban Propane Partners, L.P. during the second quarter valued at $121,000. Camarda Financial Advisors LLC boosted its stake in shares of Suburban Propane Partners, L.P. by 33.1% in the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock valued at $126,000 after buying an additional 1,314 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Suburban Propane Partners, L.P. by 56.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock valued at $207,000 after buying an additional 2,777 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Suburban Propane Partners, L.P. during the first quarter valued at $189,000. Finally, Snow Capital Management LP purchased a new stake in shares of Suburban Propane Partners, L.P. during the first quarter valued at $250,000. 28.41% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners, L.P. Company Profile

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

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