Suburban Propane Partners, L.P. (SPH) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Suburban Propane Partners, L.P. (NYSE:SPH) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “

Several other equities research analysts have also commented on SPH. Stifel Nicolaus restated a hold rating and issued a $25.00 price objective on shares of Suburban Propane Partners, L.P. in a research note on Friday, August 18th. BidaskClub downgraded shares of Suburban Propane Partners, L.P. from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Citigroup Inc. raised shares of Suburban Propane Partners, L.P. from a neutral rating to a buy rating and dropped their target price for the stock from $32.00 to $27.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $29.00.

Suburban Propane Partners, L.P. (NYSE:SPH) opened at 26.08 on Tuesday. The stock has a 50 day moving average price of $24.87 and a 200-day moving average price of $24.72. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 56.33 and a beta of 0.64. Suburban Propane Partners, L.P. has a 12-month low of $22.71 and a 12-month high of $34.44.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.11. The firm had revenue of $222.90 million during the quarter, compared to analyst estimates of $221.93 million. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. Suburban Propane Partners, L.P.’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.49) EPS. Equities analysts predict that Suburban Propane Partners, L.P. will post $0.59 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/suburban-propane-partners-l-p-sph-downgraded-by-zacks-investment-research-to-hold.html.

In related news, Director Harold R. Logan, Jr. sold 2,127 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $24.20, for a total value of $51,473.40. Following the completion of the transaction, the director now owns 24,074 shares of the company’s stock, valued at approximately $582,590.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.64% of the company’s stock.

A number of institutional investors have recently modified their holdings of SPH. Bruderman Asset Management LLC bought a new position in Suburban Propane Partners, L.P. in the 2nd quarter worth $121,000. Camarda Financial Advisors LLC boosted its holdings in Suburban Propane Partners, L.P. by 33.1% in the 2nd quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock worth $126,000 after buying an additional 1,314 shares during the period. Corbenic Partners LLC boosted its holdings in Suburban Propane Partners, L.P. by 0.3% in the 2nd quarter. Corbenic Partners LLC now owns 7,527 shares of the energy company’s stock worth $179,000 after buying an additional 21 shares during the period. Proficio Capital Partners LLC bought a new position in Suburban Propane Partners, L.P. in the 1st quarter worth $189,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Suburban Propane Partners, L.P. by 56.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock worth $207,000 after buying an additional 2,777 shares during the period. 25.57% of the stock is owned by institutional investors.

Suburban Propane Partners, L.P. Compa

According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “

Several other equities research analysts have also commented on SPH. Stifel Nicolaus restated a hold rating and issued a $25.00 price objective on shares of Suburban Propane Partners, L.P. in a research note on Friday, August 18th. BidaskClub downgraded shares of Suburban Propane Partners, L.P. from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Citigroup Inc. raised shares of Suburban Propane Partners, L.P. from a neutral rating to a buy rating and dropped their target price for the stock from $32.00 to $27.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $29.00.

Suburban Propane Partners, L.P. (NYSE:SPH) opened at 26.08 on Tuesday. The stock has a 50 day moving average price of $24.87 and a 200-day moving average price of $24.72. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 56.33 and a beta of 0.64. Suburban Propane Partners, L.P. has a 12-month low of $22.71 and a 12-month high of $34.44.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.11. The firm had revenue of $222.90 million during the quarter, compared to analyst estimates of $221.93 million. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. Suburban Propane Partners, L.P.’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.49) EPS. Equities analysts predict that Suburban Propane Partners, L.P. will post $0.59 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://ledgergazette.com/2017/10/11/suburban-propane-partners-l-p-sph-downgraded-by-zacks-investment-research-to-hold.html.

In related news, Director Harold R. Logan, Jr. sold 2,127 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $24.20, for a total value of $51,473.40. Following the completion of the transaction, the director now owns 24,074 shares of the company’s stock, valued at approximately $582,590.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.64% of the company’s stock.

A number of institutional investors have recently modified their holdings of SPH. Bruderman Asset Management LLC bought a new position in Suburban Propane Partners, L.P. in the 2nd quarter worth $121,000. Camarda Financial Advisors LLC boosted its holdings in Suburban Propane Partners, L.P. by 33.1% in the 2nd quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock worth $126,000 after buying an additional 1,314 shares during the period. Corbenic Partners LLC boosted its holdings in Suburban Propane Partners, L.P. by 0.3% in the 2nd quarter. Corbenic Partners LLC now owns 7,527 shares of the energy company’s stock worth $179,000 after buying an additional 21 shares during the period. Proficio Capital Partners LLC bought a new position in Suburban Propane Partners, L.P. in the 1st quarter worth $189,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Suburban Propane Partners, L.P. by 56.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock worth $207,000 after buying an additional 2,777 shares during the period. 25.57% of the stock is owned by institutional investors.

Suburban Propane Partners, L.P. Company Profile

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

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