Suburban Propane Partners (NYSE:SPH) Downgraded by Zacks Research to “Hold”

Suburban Propane Partners (NYSE:SPH) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other brokerages have also weighed in on SPH. Weiss Ratings lowered Suburban Propane Partners from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Wall Street Zen cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Suburban Propane Partners Stock Performance

SPH stock opened at $17.40 on Monday. The stock’s 50 day simple moving average is $17.91 and its 200 day simple moving average is $18.94. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.72. Suburban Propane Partners has a 12-month low of $16.53 and a 12-month high of $20.80. The stock has a market capitalization of $1.16 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.11). The business had revenue of $261.38 million during the quarter, compared to analysts’ expectations of $255.00 million. Suburban Propane Partners had a return on equity of 18.57% and a net margin of 9.37%. As a group, research analysts forecast that Suburban Propane Partners will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Suburban Propane Partners

In related news, VP Bryon L. Koepke sold 2,848 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $17.65, for a total value of $50,267.20. Following the transaction, the vice president owned 100,714 shares of the company’s stock, valued at approximately $1,777,602.10. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by company insiders.

Institutional Trading of Suburban Propane Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPH. Alps Advisors Inc. raised its position in Suburban Propane Partners by 5.1% in the fourth quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock worth $279,049,000 after acquiring an additional 724,170 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Suburban Propane Partners by 4.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock worth $77,912,000 after purchasing an additional 192,154 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Suburban Propane Partners by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after purchasing an additional 142,547 shares during the period. JPMorgan Chase & Co. lifted its position in Suburban Propane Partners by 4.9% during the fourth 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 in the last quarter. Finally, UBS Group AG grew its holdings 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 purchasing an additional 113,396 shares during the period. 30.94% of the stock is owned by hedge funds and other 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.