Suburban Propane Partners (NYSE:SPH) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Suburban Propane Partners, L.P. (NYSE:SPH)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $17.23 and traded as low as $17.13. Suburban Propane Partners shares last traded at $17.1650, with a volume of 218,512 shares trading hands.

Analyst Upgrades and Downgrades

SPH has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Zacks Research cut shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Weiss Ratings downgraded Suburban Propane Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Suburban Propane Partners Price Performance

The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.52 and a current ratio of 0.78. The firm has a market capitalization of $1.15 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The business’s 50 day moving average is $17.23 and its two-hundred day moving average is $18.71.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, August 6th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.11). Suburban Propane Partners had a return on equity of 18.57% and a net margin of 9.37%. The company had revenue of $261.38 million for the quarter, compared to analysts’ expectations of $255.00 million. Equities research analysts anticipate that Suburban Propane Partners, L.P. will post 2.05 earnings per share for the current fiscal year.

Suburban Propane Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, November 3rd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.2%. This is a boost from Suburban Propane Partners’s previous quarterly dividend of $0.3250. The ex-dividend date is Tuesday, November 3rd. Suburban Propane Partners’s dividend payout ratio (DPR) is 66.33%.

Insider Activity

In other news, VP Bryon Koepke sold 2,848 shares of Suburban Propane Partners stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $17.65, for a total transaction of $50,267.20. Following the completion of the sale, the vice president owned 100,714 shares in the company, valued at approximately $1,777,602.10. This trade represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 3,360 shares of company stock worth $58,710. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC bought a new position in shares of Suburban Propane Partners during the 3rd quarter valued at about $25,000. Latitude Advisors LLC purchased a new stake in Suburban Propane Partners during the 3rd quarter valued at $25,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Suburban Propane Partners during the second quarter worth about $29,000. Compass Financial Management LLC purchased a new stake in Suburban Propane Partners in the 2nd quarter worth approximately $29,000. Finally, Root Financial Partners LLC bought a new stake in Suburban Propane Partners in the third quarter valued at $67,000. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

About Suburban Propane Partners

Suburban Propane Partners, L.P. (NYSE:SPH) is a master limited partnership that distributes and sells propane and other energy products to residential, commercial, industrial, agricultural, and government customers. Its propane business supports heating, cooking, water heating, standby power generation, and vehicle-fueling applications.

The company also markets heating oil, kerosene, diesel fuel, gasoline, natural gas, and electricity in selected markets. Through its service operations, Suburban Propane provides equipment installation, maintenance, and repair services, including support for heating and cooling systems, generators, and related energy equipment.

Suburban Propane traces its roots to 1928 and has expanded through acquisitions and internal growth.