Suburban Propane Partners (NYSE:SPH) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Suburban Propane Partners (NYSE:SPH) from a buy rating to a hold rating in a report released on Saturday morning.

Suburban Propane Partners Stock Up 0.3%

Suburban Propane Partners stock opened at $17.92 on Friday. Suburban Propane Partners has a twelve month low of $16.42 and a twelve month high of $22.24. The stock’s fifty day simple moving average is $18.45 and its 200-day simple moving average is $19.71. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $1.17 billion, a P/E ratio of 12.11 and a beta of 0.19.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, August 7th. The energy company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). The firm had revenue of $260.15 million for the quarter, compared to analyst estimates of $270.00 million. Suburban Propane Partners had a return on equity of 16.12% and a net margin of 6.79%.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be paid a dividend of $0.325 per share. The ex-dividend date is Tuesday, August 5th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.3%. Suburban Propane Partners’s payout ratio is presently 87.84%.

Insider Activity at Suburban Propane Partners

In related news, Director Harold R. Logan, Jr. sold 6,900 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $19.14, for a total transaction of $132,066.00. Following the completion of the transaction, the director owned 39,227 shares in the company, valued at approximately $750,804.78. The trade was a 14.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

A number of institutional investors and hedge funds have recently modified their holdings of SPH. Farther Finance Advisors LLC grew its stake in shares of Suburban Propane Partners by 275.5% during the first quarter. Farther Finance Advisors LLC now owns 1,363 shares of the energy company’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Suburban Propane Partners in the second quarter valued at $36,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Suburban Propane Partners in the first quarter valued at $49,000. NewEdge Advisors LLC boosted its stake in Suburban Propane Partners by 45.9% in the fourth quarter. NewEdge Advisors LLC now owns 4,650 shares of the energy company’s stock valued at $80,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Suburban Propane Partners in the second quarter valued at $103,000. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

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