Suburban Propane Partners (NYSE:SPH) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Suburban Propane Partners, L.P. (NYSE:SPH) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.07 and traded as high as $20.69. Suburban Propane Partners shares last traded at $20.34, with a volume of 114,840 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPH. Weiss Ratings raised shares of Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 18th. Argus upgraded shares of Suburban Propane Partners to a “strong-buy” rating in a research report on Wednesday, January 21st. Finally, Zacks Research raised Suburban Propane Partners to a “hold” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy”.

Suburban Propane Partners Stock Performance

The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.02 and a beta of 0.42. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.87 and a quick ratio of 0.61. The stock has a 50-day moving average of $19.76 and a 200 day moving average of $19.07.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. The company had revenue of $370.39 million for the quarter, compared to the consensus estimate of $392.00 million.

Suburban Propane Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Investors of record on Tuesday, February 3rd were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.4%. The ex-dividend date was Tuesday, February 3rd. Suburban Propane Partners’s dividend payout ratio is currently 64.04%.

Institutional Trading of Suburban Propane Partners

A number of institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. raised its position in shares of Suburban Propane Partners by 5.1% during the 4th quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock valued at $279,049,000 after acquiring an additional 724,170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Suburban Propane Partners by 4.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock worth $77,912,000 after purchasing an additional 192,154 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Suburban Propane Partners by 11.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after purchasing an additional 142,547 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Suburban Propane Partners by 4.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,314,268 shares of the energy company’s stock worth $24,367,000 after purchasing an additional 61,818 shares during the period. Finally, Bowen Hanes & Co. Inc. increased its holdings in Suburban Propane Partners by 24.5% in the third quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.