Suburban Propane Partners LP (SPH) Trading Up 3.5%
Suburban Propane Partners LP (NYSE:SPH) shares were up 3.5% during trading on Friday . The stock traded as high as $33.31 and last traded at $33.24, with a volume of 69,761 shares traded. The stock had previously closed at $32.13.
Several research analysts recently commented on SPH shares. Zacks Investment Research cut shares of Suburban Propane Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, May 12th. Argus restated a “hold” rating on shares of Suburban Propane Partners in a report on Monday, July 11th. Citigroup Inc. cut shares of Suburban Propane Partners from a “buy” rating to a “neutral” rating and increased their target price for the stock from $29.00 to $32.00 in a report on Friday, May 20th. Finally, Janney Montgomery Scott started coverage on shares of Suburban Propane Partners in a report on Wednesday, July 20th. They set a “neutral” rating and a $30.00 target price for the company. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Suburban Propane Partners currently has a consensus rating of “Hold” and a consensus target price of $32.83.
The company has a market cap of $2.04 billion and a P/E ratio of 292.52. The firm’s 50-day moving average is $33.98 and its 200 day moving average is $31.69.
Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.14. The company earned $205.10 million during the quarter, compared to the consensus estimate of $218.29 million. The business’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.67) EPS. On average, equities research analysts predict that Suburban Propane Partners LP will post $0.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Stockholders of record on Tuesday, August 2nd were paid a $0.8875 dividend. The ex-dividend date was Friday, July 29th. This represents a $3.55 annualized dividend and a dividend yield of 10.55%.
Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.
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