Brokerages Set Suburban Propane Partners, L.P. (NYSE:SPH) PT at $29.67

Suburban Propane Partners, L.P. (NYSE:SPH) has received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $29.00.

Several brokerages recently commented on SPH. 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 Friday, May 5th. ValuEngine cut shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price objective on shares of Suburban Propane Partners, L.P. in a research note on Friday, July 14th. BidaskClub cut shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Citigroup Inc. upgraded shares of Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $32.00 to $27.00 in a research note on Thursday, July 27th.

Shares of Suburban Propane Partners, L.P. (NYSE SPH) opened at 24.08 on Friday. The firm’s 50-day moving average price is $24.42 and its 200 day moving average price is $25.57. The stock has a market capitalization of $1.47 billion, a P/E ratio of 52.01 and a beta of 0.64. Suburban Propane Partners, L.P. has a 52 week low of $22.71 and a 52 week high of $34.50.

Suburban Propane Partners, L.P. (NYSE:SPH) last issued its earnings results on Thursday, August 3rd. The energy company reported ($0.48) earnings per share 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 business 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 firm earned ($0.49) earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts expect that Suburban Propane Partners, L.P. will post $0.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 8th. Stockholders of record on Tuesday, August 1st were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 14.74%. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Suburban Propane Partners, L.P.’s previous quarterly dividend of $0.89. Suburban Propane Partners, L.P.’s payout ratio is currently 788.89%.

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Several institutional investors have recently bought and sold shares of the stock. Bruderman Asset Management LLC purchased a new position in Suburban Propane Partners, L.P. during the second quarter worth $121,000. Camarda Financial Advisors LLC raised its position in 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 worth $126,000 after buying an additional 1,314 shares in the last quarter. PNC Financial Services Group Inc. raised its position in 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 worth $207,000 after buying an additional 2,777 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Suburban Propane Partners, L.P. during the first quarter worth $189,000. Finally, Snow Capital Management LP purchased a new position in Suburban Propane Partners, L.P. during the first quarter worth $250,000. 28.41% of the stock is owned by institutional investors and hedge funds.

About Suburban Propane Partners, L.P.

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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