Suburban Propane Partners (NYSE:SPH) Upgraded at Argus

Argus upgraded shares of Suburban Propane Partners (NYSE:SPH) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Suburban Propane Partners in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Suburban Propane Partners Stock Up 0.7%

Shares of Suburban Propane Partners stock opened at $19.58 on Wednesday. Suburban Propane Partners has a twelve month low of $17.30 and a twelve month high of $22.24. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 11.94 and a beta of 0.41. The company has a current ratio of 0.55, a quick ratio of 0.31 and a debt-to-equity ratio of 2.02. The company has a fifty day moving average price of $18.92 and a 200 day moving average price of $18.66.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, November 13th. The energy company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Suburban Propane Partners had a return on equity of 16.31% and a net margin of 7.44%.The company had revenue of $211.38 million for the quarter, compared to analyst estimates of $227.00 million.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Tuesday, February 3rd. Suburban Propane Partners’s dividend payout ratio is 79.27%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPH. Goldman Sachs Group Inc. grew its holdings in Suburban Propane Partners by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after acquiring an additional 142,547 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Suburban Propane Partners by 7.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,063 shares of the energy company’s stock worth $369,000 after purchasing an additional 1,460 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Suburban Propane Partners by 9.8% during the second quarter. Janney Montgomery Scott LLC now owns 55,404 shares of the energy company’s stock valued at $1,027,000 after buying an additional 4,932 shares in the last quarter. Wealthstar Advisors LLC lifted its holdings in Suburban Propane Partners by 7.7% during the 2nd quarter. Wealthstar Advisors LLC now owns 36,771 shares of the energy company’s stock worth $681,000 after buying an additional 2,635 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Suburban Propane Partners in the 2nd quarter valued at approximately $103,000. 30.94% of the stock is currently owned by institutional investors.

About Suburban Propane Partners

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.