Suburban Propane Partners (NYSE:SPH) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Suburban Propane Partners, L.P. (NYSE:SPH) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.63 and traded as high as $19.20. Suburban Propane Partners shares last traded at $19.16, with a volume of 101,589 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Suburban Propane Partners in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Suburban Propane Partners has a consensus rating of “Hold”.

Suburban Propane Partners Trading Up 0.1%

The firm has a market capitalization of $1.27 billion, a P/E ratio of 11.68 and a beta of 0.41. The business’s 50 day moving average is $18.88 and its two-hundred day moving average is $18.63. The company has a quick ratio of 0.31, a current ratio of 0.55 and a debt-to-equity ratio of 2.02.

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 during the quarter, compared to the consensus estimate of $227.00 million. Suburban Propane Partners had a net margin of 7.44% and a return on equity of 16.31%.

Suburban Propane Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 11th. Investors of record on Tuesday, November 4th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Tuesday, November 4th. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 79.27%.

Hedge Funds Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Suburban Propane Partners by 3.1% during the 3rd quarter. Alps Advisors Inc. now owns 14,327,026 shares of the energy company’s stock valued at $267,199,000 after purchasing an additional 433,748 shares during the period. Bowen Hanes & Co. Inc. boosted its stake in Suburban Propane Partners by 24.5% during the third quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after buying an additional 200,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Suburban Propane Partners by 18.7% during the second quarter. JPMorgan Chase & Co. now owns 1,266,303 shares of the energy company’s stock worth $23,465,000 after acquiring an additional 199,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Suburban Propane Partners by 4.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock worth $77,912,000 after acquiring an additional 192,154 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Suburban Propane Partners by 11.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after acquiring an additional 142,547 shares in the last quarter. 30.94% of the stock is owned by institutional investors.

Suburban Propane Partners Company Profile

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.