Stifel Nicolaus upgraded shares of Suburban Propane Partners LP (NYSE:SPH) from a hold rating to a buy rating in a report released on Thursday. They currently have $36.00 target price on the stock, up from their prior target price of $34.00.

SPH has been the topic of several other research reports. Zacks Investment Research lowered shares of Suburban Propane Partners from a hold rating to a sell rating in a research note on Tuesday, August 9th. Janney Montgomery Scott started coverage on shares of Suburban Propane Partners in a research note on Wednesday, July 20th. They issued a neutral rating and a $30.00 target price on the stock. Finally, Argus reaffirmed a hold rating on shares of Suburban Propane Partners in a research note on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $34.29.

Shares of Suburban Propane Partners (NYSE:SPH) traded up 1.86% on Thursday, reaching $32.83. 75,816 shares of the company were exchanged. The stock has a 50 day moving average price of $32.99 and a 200-day moving average price of $32.65. Suburban Propane Partners has a 12 month low of $20.93 and a 12 month high of $37.10. The stock has a market capitalization of $2.00 billion, a P/E ratio of 285.48 and a beta of 0.69.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.14. The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $218.29 million. During the same period in the prior year, the company earned ($0.67) EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. On average, equities analysts expect that Suburban Propane Partners will post $0.42 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Suburban Propane Partners by 4.1% in the first quarter. State Street Corp now owns 54,876 shares of the company’s stock valued at $1,640,000 after buying an additional 2,147 shares during the period. Rafferty Asset Management LLC increased its stake in Suburban Propane Partners by 6.0% in the first quarter. Rafferty Asset Management LLC now owns 72,551 shares of the company’s stock worth $2,169,000 after buying an additional 4,087 shares during the period. Williams Jones & Associates LLC acquired a new stake in Suburban Propane Partners during the first quarter worth about $238,000. National Planning Corp increased its stake in Suburban Propane Partners by 4.0% in the first quarter. National Planning Corp now owns 11,188 shares of the company’s stock worth $339,000 after buying an additional 429 shares during the period. Finally, Harvest Fund Advisors LLC acquired a new stake in Suburban Propane Partners during the first quarter worth about $11,961,000.

About Suburban Propane Partners

Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.

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