Suburban Propane Partners LP (SPH) Expected to Post Quarterly Sales of $390.59 Million

Equities analysts predict that Suburban Propane Partners LP (NYSE:SPH) will post sales of $390.59 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Suburban Propane Partners’ earnings. The highest sales estimate is $402.18 million and the lowest is $379.00 million. Suburban Propane Partners posted sales of $373.28 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The firm is scheduled to announce its next earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Suburban Propane Partners will report full year sales of $1.40 billion for the current year, with estimates ranging from $1.35 billion to $1.43 billion. For the next year, analysts anticipate that the company will post sales of $1.41 billion, with estimates ranging from $1.36 billion to $1.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Suburban Propane Partners.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, November 15th. The energy company reported ($0.83) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.86) by $0.03. Suburban Propane Partners had a net margin of 5.69% and a return on equity of 13.56%. The firm had revenue of $192.92 million for the quarter, compared to analyst estimates of $189.92 million.

A number of research analysts have issued reports on SPH shares. Zacks Investment Research upgraded shares of Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, October 24th. ValuEngine upgraded shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $26.75.

In other Suburban Propane Partners news, Director Jane Swift sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $23.13, for a total value of $62,451.00. Following the sale, the director now owns 25,080 shares in the company, valued at $580,100.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.75% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Abrams Capital Management L.P. boosted its position in Suburban Propane Partners by 5.5% in the third quarter. Abrams Capital Management L.P. now owns 2,988,346 shares of the energy company’s stock valued at $70,316,000 after buying an additional 156,237 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Suburban Propane Partners by 10.5% in the second quarter. CIBC Private Wealth Group LLC now owns 1,066,387 shares of the energy company’s stock valued at $25,049,000 after buying an additional 100,969 shares in the last quarter. HITE Hedge Asset Management LLC boosted its position in Suburban Propane Partners by 5.8% in the second quarter. HITE Hedge Asset Management LLC now owns 654,958 shares of the energy company’s stock valued at $15,385,000 after buying an additional 35,991 shares in the last quarter. Bank of Montreal Can boosted its position in Suburban Propane Partners by 2.6% in the third quarter. Bank of Montreal Can now owns 332,710 shares of the energy company’s stock valued at $7,829,000 after buying an additional 8,573 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Suburban Propane Partners by 468.4% in the second quarter. Renaissance Technologies LLC now owns 216,067 shares of the energy company’s stock valued at $5,075,000 after buying an additional 178,057 shares in the last quarter. Hedge funds and other institutional investors own 30.57% of the company’s stock.

Shares of NYSE:SPH traded down $0.29 on Thursday, reaching $22.35. 480,923 shares of the company’s stock were exchanged, compared to its average volume of 210,338. Suburban Propane Partners has a twelve month low of $21.85 and a twelve month high of $26.73. The firm has a market cap of $1.44 billion, a PE ratio of 18.02, a PEG ratio of 3.83 and a beta of 0.55. The company has a quick ratio of 0.45, a current ratio of 0.72 and a debt-to-equity ratio of 2.54.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Tuesday, November 6th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 5th. This represents a $2.40 dividend on an annualized basis and a yield of 10.74%. Suburban Propane Partners’s dividend payout ratio is currently 193.55%.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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