Suburban Propane Partners (NYSE:SPH) Reaches New 1-Year Low – What’s Next?

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $17.22 and last traded at $17.3650, with a volume of 49449 shares traded. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

SPH has been the topic of a number of research analyst reports. Zacks Research lowered Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suburban Propane Partners in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded Suburban Propane Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy”.

Suburban Propane Partners Trading Down 1.9%

The stock has a market cap of $1.12 billion, a P/E ratio of 8.46 and a beta of 0.40. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a 50-day moving average price of $19.40 and a 200-day moving average price of $19.56.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, May 7th. The energy company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.32. The firm had revenue of $551.21 million during the quarter, compared to the consensus estimate of $575.00 million. Suburban Propane Partners had a return on equity of 19.45% and a net margin of 9.57%. On average, equities research analysts expect that Suburban Propane Partners, L.P. will post 1.8 EPS for the current year.

Suburban Propane Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.325 per share. The ex-dividend date was Tuesday, May 5th. This represents a $1.30 annualized dividend and a dividend yield of 7.7%. Suburban Propane Partners’s dividend payout ratio is 65.33%.

Hedge Funds Weigh In On Suburban Propane Partners

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of Suburban Propane Partners by 5.1% during the 4th quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock valued at $279,049,000 after purchasing an additional 724,170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Suburban Propane Partners by 4.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock valued at $77,912,000 after purchasing an additional 192,154 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Suburban Propane Partners by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock valued at $28,795,000 after purchasing an additional 142,547 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Suburban Propane Partners by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,314,268 shares of the energy company’s stock valued at $24,367,000 after purchasing an additional 61,818 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. increased its position in shares of Suburban Propane Partners by 24.5% during the 3rd quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after purchasing an additional 200,000 shares during the last quarter. 30.94% of the stock is currently owned by institutional investors.

About Suburban Propane Partners

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.