Suburban Propane Partners, L.P. (NYSE:SPH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, July 12th.

According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “

A number of other analysts have also recently commented on the stock. Stifel Nicolaus upped their price target on shares of Suburban Propane Partners, L.P. to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 18th. ValuEngine lowered shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Suburban Propane Partners, L.P. presently has an average rating of “Hold” and a consensus target price of $30.80.

Shares of Suburban Propane Partners, L.P. (SPH) traded down 1.87% during trading on Wednesday, reaching $24.17. The company had a trading volume of 221,813 shares. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 51.87 and a beta of 0.64. Suburban Propane Partners, L.P. has a 12 month low of $22.71 and a 12 month high of $34.55. The firm has a 50 day moving average price of $24.40 and a 200 day moving average price of $25.86.

Suburban Propane Partners, L.P. (NYSE:SPH) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.11. The company had revenue of $222.90 million for the quarter, compared to analysts’ expectations of $221.93 million. Suburban Propane Partners, L.P. had a net margin of 2.46% and a return on equity of 4.00%. Suburban Propane Partners, L.P.’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) EPS. Analysts predict that Suburban Propane Partners, L.P. will post $0.61 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the company. Camarda Financial Advisors LLC raised its position in shares of Suburban Propane Partners, L.P. by 33.1% in the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock worth $126,000 after buying an additional 1,314 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Suburban Propane Partners, L.P. during the first quarter worth about $189,000. PNC Financial Services Group Inc. boosted its stake in shares of Suburban Propane Partners, L.P. by 56.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock worth $207,000 after buying an additional 2,777 shares during the period. Snow Capital Management LP acquired a new stake in shares of Suburban Propane Partners, L.P. during the first quarter worth about $250,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of Suburban Propane Partners, L.P. during the second quarter valued at $250,000. 28.39% of the stock is currently owned by hedge funds and other institutional investors.

Suburban Propane Partners, L.P. Company Profile

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

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