Suburban Propane Partners (NYSE:SPH) Downgraded to Sell at Argus

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Argus downgraded shares of Suburban Propane Partners (NYSE:SPH) from a hold rating to a sell rating in a research report report published on Tuesday, BenzingaRatingsTable reports.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Suburban Propane Partners from a strong sell rating to a hold rating and set a $25.00 target price on the stock in a research note on Thursday, January 16th. TheStreet cut shares of Suburban Propane Partners from a b- rating to a c+ rating in a research note on Tuesday, December 17th. Finally, ValuEngine upgraded shares of Suburban Propane Partners from a sell rating to a hold rating in a research report on Wednesday, January 8th.

NYSE SPH opened at $21.60 on Tuesday. Suburban Propane Partners has a 12 month low of $21.13 and a 12 month high of $24.89. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 4.89 and a beta of 0.88. The company’s 50 day moving average is $22.16 and its two-hundred day moving average is $22.93. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 3.01.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 6th. The energy company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Suburban Propane Partners had a return on equity of 16.71% and a net margin of 6.62%. The firm had revenue of $333.88 million for the quarter, compared to the consensus estimate of $371.70 million. Sell-side analysts forecast that Suburban Propane Partners will post 1.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 11.11%. The ex-dividend date of this dividend was Monday, February 3rd. Suburban Propane Partners’s payout ratio is currently 218.18%.

Several institutional investors have recently added to or reduced their stakes in SPH. Jane Street Group LLC acquired a new position in shares of Suburban Propane Partners during the fourth quarter valued at about $563,000. Guggenheim Capital LLC increased its holdings in shares of Suburban Propane Partners by 46.5% during the fourth quarter. Guggenheim Capital LLC now owns 50,673 shares of the energy company’s stock valued at $1,107,000 after acquiring an additional 16,083 shares in the last quarter. UBS Group AG increased its holdings in shares of Suburban Propane Partners by 92.3% during the fourth quarter. UBS Group AG now owns 184,494 shares of the energy company’s stock valued at $4,031,000 after acquiring an additional 88,546 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Suburban Propane Partners by 38.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 324,432 shares of the energy company’s stock valued at $7,089,000 after acquiring an additional 89,280 shares in the last quarter. Finally, Credit Suisse AG increased its holdings in shares of Suburban Propane Partners by 26.5% during the fourth quarter. Credit Suisse AG now owns 13,241 shares of the energy company’s stock valued at $289,000 after acquiring an additional 2,775 shares in the last quarter. Hedge funds and other institutional investors own 31.27% of the company’s stock.

About Suburban Propane Partners

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

Further Reading: Are sell-side analysts objective?

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