Argus Upgrades Suburban Propane Partners (NYSE:SPH) to “Strong-Buy”

Suburban Propane Partners (NYSE:SPH) was upgraded by research analysts at Argus to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Suburban Propane Partners in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Suburban Propane Partners presently has a consensus rating of “Buy”.

Suburban Propane Partners Stock Down 0.6%

Shares of SPH stock opened at $19.53 on Wednesday. Suburban Propane Partners has a 1 year low of $17.30 and a 1 year high of $22.24. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.31 and a current ratio of 0.55. The stock has a market cap of $1.29 billion, a PE ratio of 11.91 and a beta of 0.41. The business’s fifty day moving average is $18.92 and its 200-day moving average is $18.65.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, November 13th. The energy company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The company had revenue of $211.38 million for the quarter, compared to analyst estimates of $227.00 million. Suburban Propane Partners had a return on equity of 16.31% and a net margin of 7.44%.

Institutional Investors Weigh In On Suburban Propane Partners

Several hedge funds and other institutional investors have recently made changes to their positions in SPH. Secure Asset Management LLC lifted its position in Suburban Propane Partners by 14.9% during the 4th quarter. Secure Asset Management LLC now owns 14,060 shares of the energy company’s stock valued at $261,000 after purchasing an additional 1,828 shares during the period. Shrier Wealth Management LLC bought a new position in Suburban Propane Partners in the fourth quarter valued at approximately $473,000. Triumph Capital Management bought a new stake in shares of Suburban Propane Partners during the 3rd quarter valued at $50,000. Allworth Financial LP boosted its position in shares of Suburban Propane Partners by 7.5% in the 3rd quarter. Allworth Financial LP now owns 12,374 shares of the energy company’s stock worth $231,000 after purchasing an additional 860 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Suburban Propane Partners during the third quarter worth $62,000. 30.94% of the stock is owned by institutional investors and hedge funds.

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.