Suburban Propane Partners’ (SPH) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c) rating on shares of Suburban Propane Partners (NYSE:SPH) in a research report report published on Friday,Weiss Ratings reports.

Separately, Wall Street Zen lowered Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Suburban Propane Partners currently has a consensus rating of “Hold”.

Suburban Propane Partners Stock Down 0.2%

Suburban Propane Partners stock opened at $18.98 on Friday. Suburban Propane Partners has a fifty-two week low of $16.92 and a fifty-two week high of $22.24. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.46 and a current ratio of 0.70. The firm’s 50-day simple moving average is $18.56 and its 200 day simple moving average is $18.85. The stock has a market cap of $1.24 billion, a PE ratio of 12.82 and a beta of 0.32.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Suburban Propane Partners had a net margin of 6.79% and a return on equity of 16.12%. The firm had revenue of $260.15 million during the quarter, compared to analysts’ expectations of $270.00 million.

Suburban Propane Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 11th. Investors of record on Tuesday, November 4th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Tuesday, November 4th. Suburban Propane Partners’s payout ratio is 87.84%.

Institutional Trading of Suburban Propane Partners

A number of large investors have recently bought and sold shares of SPH. Alps Advisors Inc. lifted its position in shares of Suburban Propane Partners by 16.7% during the 1st quarter. Alps Advisors Inc. now owns 14,142,616 shares of the energy company’s stock valued at $297,136,000 after buying an additional 2,018,820 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Suburban Propane Partners by 24.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,249,304 shares of the energy company’s stock valued at $89,278,000 after acquiring an additional 845,076 shares during the period. Goldman Sachs Group Inc. raised its stake in Suburban Propane Partners by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock valued at $28,795,000 after acquiring an additional 142,547 shares during the period. JPMorgan Chase & Co. lifted 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 valued at $23,465,000 after purchasing an additional 199,693 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Suburban Propane Partners during the second quarter worth about $2,278,000. 30.94% of the stock is owned by hedge funds and other 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.