Suburban Propane Partners, L.P. (NYSE:SPH) Stock Rating Lowered by Zacks Investment Research

Suburban Propane Partners, L.P. (NYSE:SPH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “

A number of other research firms have also recently issued reports on SPH. BidaskClub raised Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Stifel Nicolaus boosted their target price on Suburban Propane Partners, L.P. to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 18th. Finally, ValuEngine cut Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus target price of $31.40.

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) opened at 24.48 on Tuesday. The firm’s 50-day moving average price is $24.11 and its 200-day moving average price is $26.25. Suburban Propane Partners, L.P. has a 12 month low of $22.71 and a 12 month high of $35.00. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 52.53 and a beta of 0.63.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its earnings results on Thursday, May 4th. The energy company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by $0.46. Suburban Propane Partners, L.P. had a net margin of 2.51% and a return on equity of 3.86%. The business had revenue of $450.58 million during the quarter, compared to analyst estimates of $503.38 million. During the same period in the previous year, the firm posted $1.51 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Suburban Propane Partners, L.P. will post $0.71 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SPH. Blair William & Co. IL boosted its position in Suburban Propane Partners, L.P. by 577.0% in the first quarter. Blair William & Co. IL now owns 48,165 shares of the energy company’s stock valued at $1,261,000 after buying an additional 41,050 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Suburban Propane Partners, L.P. by 407.6% in the first quarter. Advisors Asset Management Inc. now owns 37,929 shares of the energy company’s stock valued at $1,023,000 after buying an additional 30,457 shares in the last quarter. Rafferty Asset Management LLC boosted its position in Suburban Propane Partners, L.P. by 36.4% in the first quarter. Rafferty Asset Management LLC now owns 109,011 shares of the energy company’s stock valued at $2,939,000 after buying an additional 29,090 shares in the last quarter. IFP Advisors Inc boosted its position in Suburban Propane Partners, L.P. by 6.9% in the first quarter. IFP Advisors Inc now owns 17,168 shares of the energy company’s stock valued at $463,000 after buying an additional 1,106 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Suburban Propane Partners, L.P. by 31.9% in the first quarter. Van ECK Associates Corp now owns 165,330 shares of the energy company’s stock valued at $4,457,000 after buying an additional 39,955 shares in the last quarter. 28.27% of the stock is owned by institutional investors.

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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