Suburban Propane Partners (NYSE:SPH) Upgraded at Zacks Research

Zacks Research upgraded shares of Suburban Propane Partners (NYSE:SPH) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently 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 report on Wednesday, February 18th. Argus raised shares of Suburban Propane Partners to a “strong-buy” rating in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, Suburban Propane Partners presently has a consensus rating of “Strong Buy”.

Suburban Propane Partners Stock Up 0.2%

Suburban Propane Partners stock opened at $19.04 on Monday. The company has a market cap of $1.26 billion, a P/E ratio of 9.38 and a beta of 0.44. Suburban Propane Partners has a 1-year low of $17.30 and a 1-year high of $20.80. The company has a fifty day simple moving average of $20.08 and a 200 day simple moving average of $19.37. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 2.11.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. The business had revenue of $370.39 million during the quarter, compared to the consensus estimate of $392.00 million. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. Research analysts anticipate that Suburban Propane Partners will post 1.8 earnings per share for the current fiscal year.

Institutional Trading of Suburban Propane Partners

A number of large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Suburban Propane Partners by 1.3% in the third quarter. PNC Financial Services Group Inc. now owns 45,946 shares of the energy company’s stock valued at $857,000 after acquiring an additional 592 shares during the last quarter. Founders Capital Management lifted its stake in Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after acquiring an additional 677 shares during the last quarter. Wealthstar Advisors LLC lifted its stake in Suburban Propane Partners by 2.2% in the fourth quarter. Wealthstar Advisors LLC now owns 33,239 shares of the energy company’s stock valued at $616,000 after acquiring an additional 714 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Suburban Propane Partners by 11.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,175 shares of the energy company’s stock valued at $133,000 after acquiring an additional 757 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Suburban Propane Partners by 7.5% in the third quarter. Allworth Financial LP now owns 12,374 shares of the energy company’s stock valued at $231,000 after acquiring an additional 860 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.