Suburban Propane Partners LP (SPH) Holdings Lifted by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. raised its stake in shares of Suburban Propane Partners LP (NYSE:SPH) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,419 shares of the energy company’s stock after purchasing an additional 1,879 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.19% of Suburban Propane Partners worth $2,224,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. CIBC Private Wealth Group LLC increased its stake in shares of Suburban Propane Partners by 17.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,304,288 shares of the energy company’s stock worth $25,134,000 after acquiring an additional 193,972 shares during the period. Abrams Capital Management L.P. increased its stake in shares of Suburban Propane Partners by 5.5% in the third quarter. Abrams Capital Management L.P. now owns 2,988,346 shares of the energy company’s stock worth $70,316,000 after acquiring an additional 156,237 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Suburban Propane Partners in the third quarter worth $2,841,000. ING Groep NV acquired a new stake in shares of Suburban Propane Partners in the third quarter worth $793,000. Finally, Summit Global Investments acquired a new stake in shares of Suburban Propane Partners in the fourth quarter worth $590,000. Institutional investors and hedge funds own 31.16% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Suburban Propane Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. ValuEngine lowered shares of Suburban Propane Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, December 26th.
Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, February 7th. The energy company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.31). Suburban Propane Partners had a return on equity of 12.26% and a net margin of 4.98%. The firm had revenue of $377.10 million for the quarter, compared to analysts’ expectations of $402.18 million. Research analysts predict that Suburban Propane Partners LP will post 1.51 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2019/03/15/suburban-propane-partners-lp-sph-holdings-lifted-by-raymond-james-financial-services-advisors-inc.html.
Suburban Propane Partners Company Profile
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
Read More: Why do commodities matter?
Want to see what other hedge funds are holding SPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suburban Propane Partners LP (NYSE:SPH).
Receive News & Ratings for Suburban Propane Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suburban Propane Partners and related companies with MarketBeat.com's FREE daily email newsletter.