Suburban Propane Partners (NYSE:SPH) Trading Down 5.7% – What’s Next?

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) fell 5.7% on Friday . The stock traded as low as $17.85 and last traded at $17.87. 218,072 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 134,458 shares. The stock had previously closed at $18.95.

Analyst Ratings Changes

SPH has been the subject of a number of recent research reports. Zacks Research cut shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suburban Propane Partners in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Suburban Propane Partners Stock Down 5.7%

The stock has a market cap of $1.18 billion, a P/E ratio of 8.99 and a beta of 0.40. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 1.69. The firm’s fifty day moving average is $19.59 and its 200 day moving average is $19.62.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, May 7th. The energy company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.74 by $0.32. The firm had revenue of $551.21 million for the quarter, compared to the consensus estimate of $575.00 million. Suburban Propane Partners had a net margin of 9.57% and a return on equity of 19.45%. As a group, equities research analysts forecast that Suburban Propane Partners, L.P. will post 1.8 EPS for the current year.

Suburban Propane Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.325 per share. The ex-dividend date was Tuesday, May 5th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.3%. Suburban Propane Partners’s payout ratio is 65.33%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPH. SageGuard Financial Group LLC bought a new position in Suburban Propane Partners during the fourth quarter valued at about $1,087,000. Bowen Hanes & Co. Inc. increased its stake in Suburban Propane Partners by 24.5% during the third quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after acquiring an additional 200,000 shares during the period. ING Groep NV increased its stake in Suburban Propane Partners by 49.4% during the third quarter. ING Groep NV now owns 118,000 shares of the energy company’s stock valued at $2,201,000 after acquiring an additional 39,000 shares during the period. UBS Group AG increased its stake in Suburban Propane Partners by 32.1% during the fourth quarter. UBS Group AG now owns 466,798 shares of the energy company’s stock valued at $8,654,000 after acquiring an additional 113,396 shares during the period. Finally, Shrier Wealth Management LLC bought a new position in Suburban Propane Partners during the fourth quarter valued at about $473,000. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Suburban Propane Partners Company Profile

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.