Suburban Propane Partners (NYSE:SPH) PT Lowered to $17.00

Suburban Propane Partners (NYSE:SPHGet Rating) had its price objective cut by analysts at Wells Fargo & Company from $18.00 to $17.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has an “equal weight” rating on the energy company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 6.99% from the stock’s current price.

Separately, StockNews.com raised shares of Suburban Propane Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 11th.

Suburban Propane Partners Stock Up 1.1 %

Shares of NYSE SPH opened at $15.89 on Thursday. Suburban Propane Partners has a 12-month low of $13.83 and a 12-month high of $17.75. The stock has a market cap of $1.00 billion, a PE ratio of 7.29 and a beta of 0.66. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.91. The company has a 50-day moving average of $16.19 and a 200 day moving average of $16.26.

Hedge Funds Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Antonetti Capital Management LLC acquired a new position in Suburban Propane Partners in the 1st quarter valued at about $29,000. GPS Wealth Strategies Group LLC acquired a new position in Suburban Propane Partners in the 2nd quarter valued at about $31,000. Sargent Bickham Lagudis LLC acquired a new position in Suburban Propane Partners in the 2nd quarter valued at about $31,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Suburban Propane Partners by 260.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,500 shares of the energy company’s stock worth $37,000 after acquiring an additional 1,807 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Suburban Propane Partners by 50.0% in the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,000 shares of the energy company’s stock worth $45,000 after acquiring an additional 1,000 shares during the last quarter. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Suburban Propane Partners Company Profile

(Get Rating)

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The 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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