Suburban Propane Partners LP (NYSE:SPH)’s share price dropped 2% during trading on Thursday . The stock traded as low as $32.26 and last traded at $32.50, with a volume of 115,017 shares changing hands. The stock had previously closed at $33.15.

SPH has been the topic of several research analyst reports. Zacks Investment Research downgraded Suburban Propane Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Janney Montgomery Scott began coverage on Suburban Propane Partners in a report on Wednesday, July 20th. They issued a “neutral” rating and a $30.00 target price on the stock. Argus reaffirmed a “hold” rating on shares of Suburban Propane Partners in a report on Monday, July 11th. Finally, Citigroup Inc. cut Suburban Propane Partners from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $29.00 to $32.00 in a report on Friday, May 20th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.83.

The stock has a 50 day moving average of $33.98 and a 200 day moving average of $31.69. The stock has a market cap of $2.04 billion and a PE ratio of 292.52.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.14. The company had revenue of $205.10 million for the quarter, compared to analyst estimates of $218.29 million. Suburban Propane Partners’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.67) earnings per share. Equities analysts anticipate that Suburban Propane Partners LP will post $0.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Tuesday, August 2nd were given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 10.55%. The ex-dividend date was Friday, July 29th.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.