Stifel Nicolaus upgraded shares of Suburban Propane Partners LP (NYSE:SPH) from a hold rating to a buy rating in a research report released on Thursday. Stifel Nicolaus currently has $36.00 price target on the stock, up from their prior price target of $34.00.
SPH has been the topic of several other reports. Zacks Investment Research upgraded Suburban Propane Partners from a hold rating to a buy rating and set a $37.00 price target on the stock in a report on Thursday, October 6th. Argus restated a hold rating on shares of Suburban Propane Partners in a report on Monday, July 11th. Finally, Janney Montgomery Scott assumed coverage on Suburban Propane Partners in a report on Wednesday, July 20th. They set a neutral rating and a $30.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Suburban Propane Partners presently has an average rating of Hold and a consensus target price of $34.29.
Suburban Propane Partners (NYSE:SPH) traded up 1.86% during mid-day trading on Thursday, hitting $32.83. 75,816 shares of the stock were exchanged. Suburban Propane Partners has a 1-year low of $20.93 and a 1-year high of $37.10. The company has a market capitalization of $2.00 billion, a PE ratio of 285.48 and a beta of 0.69. The stock has a 50 day moving average price of $32.99 and a 200 day moving average price of $32.65.
Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.49) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.14. The firm had revenue of $205.10 million for the quarter, compared to the consensus estimate of $218.29 million. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.67) earnings per share. On average, equities analysts anticipate that Suburban Propane Partners will post $0.42 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. boosted its position in Suburban Propane Partners by 13,893.8% in the second quarter. Cohen & Steers Inc. now owns 31,179,168 shares of the company’s stock worth $1,529,026,000 after buying an additional 30,956,361 shares during the last quarter. Energy Income Partners LLC boosted its position in Suburban Propane Partners by 41.0% in the first quarter. Energy Income Partners LLC now owns 2,041,030 shares of the company’s stock worth $61,006,000 after buying an additional 593,851 shares during the last quarter. Harvest Fund Advisors LLC acquired a new position in Suburban Propane Partners during the first quarter worth about $11,961,000. Royal Bank of Canada boosted its position in Suburban Propane Partners by 7.7% in the second quarter. Royal Bank of Canada now owns 1,269,849 shares of the company’s stock worth $42,412,000 after buying an additional 91,208 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Suburban Propane Partners by 104.0% in the second quarter. Janney Montgomery Scott LLC now owns 109,804 shares of the company’s stock worth $3,668,000 after buying an additional 55,984 shares during the last quarter.
About Suburban Propane Partners
Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.
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