Suburban Propane Partners (NYSE:SPH) Sees Large Volume Increase – What’s Next?

Suburban Propane Partners, L.P. (NYSE:SPH) saw strong trading volume on Monday . 123,491 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 124,906 shares.The stock last traded at $20.2630 and had previously closed at $19.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research raised Suburban Propane Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Argus raised Suburban Propane Partners to a “strong-buy” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings raised Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Suburban Propane Partners currently has a consensus rating of “Strong Buy”.

Suburban Propane Partners Trading Up 0.8%

The stock has a market capitalization of $1.33 billion, a PE ratio of 9.88 and a beta of 0.42. The firm has a 50-day moving average price of $20.01 and a 200-day moving average price of $19.43. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 2.11.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) 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. As a group, equities analysts forecast that Suburban Propane Partners, L.P. will post 1.8 EPS for the current fiscal year.

Suburban Propane Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 12th. Stockholders of record on Tuesday, May 5th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $1.30 annualized dividend and a dividend yield of 6.5%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 64.04%.

Institutional Investors Weigh In On Suburban Propane Partners

Large investors have recently made changes to their positions in the business. Founders Capital Management grew its stake in shares of Suburban Propane Partners by 56.4% during the 3rd quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock worth $35,000 after acquiring an additional 677 shares during the period. Truvestments Capital LLC bought a new position in shares of Suburban Propane Partners during the 4th quarter worth $37,000. Triumph Capital Management bought a new position in shares of Suburban Propane Partners during the 3rd quarter worth $50,000. Advisory Services Network LLC bought a new position in shares of Suburban Propane Partners during the 3rd quarter worth $62,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Suburban Propane Partners by 37.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock worth $68,000 after acquiring an additional 1,000 shares during the period. 30.94% of the stock is owned by hedge funds and other 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.