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

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.99 and traded as high as $20.70. Suburban Propane Partners shares last traded at $20.56, with a volume of 165,011 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SPH shares. Zacks Research raised shares of Suburban Propane Partners to a “hold” rating in a research report on Friday, January 23rd. Argus upgraded Suburban Propane Partners to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings raised Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Suburban Propane Partners Trading Down 0.1%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.61 and a current ratio of 0.87. The business’s 50 day moving average price is $19.63 and its 200-day moving average price is $19.01. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 10.13 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, February 5th. The energy company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. Suburban Propane Partners had a return on equity of 19.94% and a net margin of 9.30%.The firm had revenue of $370.39 million during the quarter, compared to analyst estimates of $392.00 million.

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Investors of record on Tuesday, February 3rd were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Tuesday, February 3rd. Suburban Propane Partners’s dividend payout ratio is currently 64.04%.

Hedge Funds Weigh In On Suburban Propane Partners

A number of hedge funds have recently added to or reduced their stakes in SPH. Founders Capital Management raised its holdings in shares of Suburban Propane Partners by 56.4% during the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock worth $35,000 after purchasing an additional 677 shares during the period. Truvestments Capital LLC acquired a new stake in Suburban Propane Partners during the fourth quarter worth about $37,000. Triumph Capital Management acquired a new stake in Suburban Propane Partners during the third quarter worth about $50,000. Advisory Services Network LLC bought a new position in Suburban Propane Partners in the third quarter worth about $62,000. Finally, Geneos Wealth Management Inc. boosted its stake in Suburban Propane Partners by 37.7% in the third quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock valued at $68,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 30.94% of the company’s stock.

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.