Suburban Propane Partners (NYSE:SPH) Shares Cross Above 200 Day Moving Average – Here’s Why

Suburban Propane Partners, L.P. (NYSE:SPH) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.60 and traded as high as $19.62. Suburban Propane Partners shares last traded at $19.2650, with a volume of 93,409 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suburban Propane Partners in a report on Monday, May 18th. Zacks Research cut shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Suburban Propane Partners Trading Down 0.8%

The company has a market cap of $1.28 billion, a price-to-earnings ratio of 9.68 and a beta of 0.40. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The company’s 50-day moving average is $19.67 and its 200 day moving average is $19.60.

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

Suburban Propane Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th were given a $0.325 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $1.30 annualized dividend and a dividend yield of 6.7%. Suburban Propane Partners’s dividend payout ratio (DPR) is 65.33%.

Institutional Trading of Suburban Propane Partners

Several institutional investors have recently modified their holdings of SPH. Founders Capital Management grew its position in shares of Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after purchasing an additional 677 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at about $37,000. Triumph Capital Management acquired a new stake in shares of Suburban Propane Partners in the third quarter valued at about $50,000. Advisory Services Network LLC acquired a new stake in shares of Suburban Propane Partners in the third quarter valued at about $62,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Suburban Propane Partners by 91.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 4,440 shares of the energy company’s stock valued at $81,000 after purchasing an additional 2,121 shares during the period. Institutional investors and hedge funds own 30.94% of the company’s stock.

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.