Suburban Propane Partners LP (SPH) Sees Unusually-High Trading Volume
Shares of Suburban Propane Partners LP (NYSE:SPH) saw unusually-strong trading volume on Monday . Approximately 347,500 shares changed hands during mid-day trading, an increase of 118% from the previous session’s volume of 159,425 shares.The stock last traded at $33.64 and had previously closed at $32.13.
A number of equities research analysts have recently weighed in on SPH shares. Zacks Investment Research downgraded Suburban Propane Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, May 12th. Argus reiterated a “hold” rating on shares of Suburban Propane Partners in a report on Monday, July 11th. Citigroup Inc. downgraded Suburban Propane Partners from a “buy” rating to a “neutral” rating and boosted their price target for the company from $29.00 to $32.00 in a report on Friday, May 20th. Finally, Janney Montgomery Scott started coverage on Suburban Propane Partners in a report on Wednesday, July 20th. They issued a “neutral” rating and a $30.00 price target for the company. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Suburban Propane Partners presently has a consensus rating of “Hold” and an average target price of $32.83.
The company has a 50-day moving average price of $33.98 and a 200 day moving average price of $31.69. The company has a market capitalization of $2.04 billion and a PE ratio of 292.52.
Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ 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. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.67) EPS. Analysts anticipate that Suburban Propane Partners LP will post $0.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Stockholders of record on Tuesday, August 2nd were issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend 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.
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