Suburban Propane Partners LP (SPH) Shares Down 1.4%
Suburban Propane Partners LP (NYSE:SPH) shares traded down 1.4% on Tuesday . The stock traded as low as $33.78 and last traded at $33.86, with a volume of 69,062 shares traded. The stock had previously closed at $34.33.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, May 6th. Argus reiterated a “hold” rating on shares of Suburban Propane Partners in a research report on Monday, July 11th. Citigroup Inc. lowered Suburban Propane Partners from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $29.00 to $32.00 in a research report on Friday, May 20th. Finally, Janney Montgomery Scott assumed coverage on Suburban Propane Partners in a research report on Wednesday, July 20th. They issued a “neutral” rating and a $30.00 price objective for the company. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.83.
The company has a 50-day moving average price of $34.16 and a 200-day moving average price of $31.27. The stock has a market cap of $2.03 billion and a P/E ratio of 290.70.
Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.14. During the same quarter in the prior year, the firm earned ($0.67) earnings per share. The company had revenue of $205.10 million for the quarter, compared to analyst estimates of $218.29 million. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities analysts predict that Suburban Propane Partners LP will post $0.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Tuesday, August 2nd were given a dividend of $0.8875 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $3.55 annualized dividend and a dividend yield of 10.62%.
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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