Suburban Propane Partners (NYSE:SPH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Suburban Propane Partners (NYSE:SPH) from a hold rating to a buy rating in a research note released on Monday.

Separately, Argus upped their price target on Suburban Propane Partners from $24.00 to $25.00 and gave the company a buy rating in a research report on Monday, June 10th.

Suburban Propane Partners Stock Performance

NYSE SPH opened at $16.94 on Monday. The company has a market capitalization of $1.08 billion, a PE ratio of 10.02 and a beta of 0.44. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.65 and a current ratio of 0.88. Suburban Propane Partners has a 52-week low of $14.45 and a 52-week high of $22.33. The company has a 50-day simple moving average of $19.04 and a 200 day simple moving average of $19.59.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $1.72 EPS for the quarter. Suburban Propane Partners had a return on equity of 18.91% and a net margin of 8.02%. The business had revenue of $498.09 million for the quarter.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Tuesday, August 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 76.92%.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 3,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $19.18, for a total transaction of $57,540.00. Following the sale, the director now owns 39,515 shares in the company, valued at $757,897.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Suburban Propane Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its stake in Suburban Propane Partners by 1.3% during the first quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock valued at $977,000 after acquiring an additional 624 shares in the last quarter. CWM LLC grew its position in shares of Suburban Propane Partners by 52.1% during the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after purchasing an additional 734 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Suburban Propane Partners by 64.5% in the first quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock worth $52,000 after buying an additional 1,000 shares in the last quarter. Private Advisor Group LLC boosted its stake in Suburban Propane Partners by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock valued at $970,000 after buying an additional 1,200 shares during the period. Finally, Avantax Advisory Services Inc. boosted its stake in Suburban Propane Partners by 28.6% during the first quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock valued at $470,000 after buying an additional 5,113 shares during the period. 30.94% of the stock is currently owned by institutional investors.

About Suburban Propane Partners

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.