Suburban Propane Partners LP (NYSE:SPH) has been assigned a $30.00 price target by equities researchers at Credit Suisse Group AG in a report released on Thursday. The firm currently has a a “sell” rating on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 4.24% from the stock’s current price.

A number of other brokerages have also issued reports on SPH. Janney Montgomery Scott began coverage on shares of Suburban Propane Partners in a report on Wednesday, July 20th. They issued a “neutral” rating and a $30.00 price target on the stock. Zacks Investment Research raised shares of Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Stifel Nicolaus raised shares of Suburban Propane Partners from a “hold” rating to a “buy” rating and raised their price target for the stock from $34.00 to $36.00 in a report on Thursday, October 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.20.

Analyst Recommendations for Suburban Propane Partners (NYSE:SPH)

Shares of Suburban Propane Partners (NYSE:SPH) opened at 28.78 on Thursday. The company has a 50 day moving average of $32.21 and a 200-day moving average of $32.93. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 250.26 and a beta of 0.69. Suburban Propane Partners has a 12-month low of $20.93 and a 12-month high of $37.10.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by $0.17. The business had revenue of $161 million for the quarter, compared to analyst estimates of $196.39 million. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.11) earnings per share. Analysts predict that Suburban Propane Partners will post $1.91 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.887 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 12.33%. The ex-dividend date of this dividend was Friday, October 28th.

A number of hedge funds and other institutional investors have recently modified their holdings of SPH. NEXT Financial Group Inc boosted its position in shares of Suburban Propane Partners by 0.5% in the second quarter. NEXT Financial Group Inc now owns 10,450 shares of the company’s stock worth $349,000 after buying an additional 50 shares during the period. National Planning Corp boosted its position in shares of Suburban Propane Partners by 0.9% in the second quarter. National Planning Corp now owns 11,288 shares of the company’s stock worth $373,000 after buying an additional 100 shares during the period. Williams Jones & Associates LLC boosted its position in shares of Suburban Propane Partners by 2.5% in the second quarter. Williams Jones & Associates LLC now owns 8,165 shares of the company’s stock worth $273,000 after buying an additional 200 shares during the period. US Bancorp DE boosted its position in shares of Suburban Propane Partners by 3.7% in the second quarter. US Bancorp DE now owns 6,272 shares of the company’s stock worth $210,000 after buying an additional 225 shares during the period. Finally, Financial Architects Inc boosted its position in shares of Suburban Propane Partners by 7.9% in the second quarter. Financial Architects Inc now owns 3,395 shares of the company’s stock worth $113,000 after buying an additional 250 shares during the period.

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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