Zacks Investment Research upgraded shares of Suburban Propane Partners, L.P. (NYSE:SPH) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

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. “

SPH has been the subject of several other research reports. ValuEngine cut Suburban Propane Partners, L.P. from a hold rating to a sell rating in a report on Friday, June 2nd. Stifel Nicolaus restated a hold rating and issued a $25.00 price target on shares of Suburban Propane Partners, L.P. in a report on Friday, July 14th. BidaskClub cut Suburban Propane Partners, L.P. from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Citigroup Inc. upgraded Suburban Propane Partners, L.P. from a neutral rating to a buy rating and lowered their price target for the company from $32.00 to $27.00 in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $30.80.

Suburban Propane Partners, L.P. (SPH) traded up 2.26% during mid-day trading on Tuesday, reaching $24.39. 217,603 shares of the company’s stock traded hands. The stock has a market capitalization of $1.49 billion, a PE ratio of 52.34 and a beta of 0.64. The stock’s 50 day moving average is $24.41 and its 200-day moving average is $25.83. Suburban Propane Partners, L.P. has a 52 week low of $22.71 and a 52 week high of $34.50.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.11. The company had revenue of $222.90 million during the quarter, compared to analysts’ expectations of $221.93 million. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.49) EPS. On average, equities analysts anticipate that Suburban Propane Partners, L.P. will post $0.60 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, August 8th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 14.88%. This is a boost from Suburban Propane Partners, L.P.’s previous quarterly dividend of $0.89. Suburban Propane Partners, L.P.’s payout ratio is presently 788.89%.

Hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Suburban Propane Partners, L.P. by 1.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 38,761 shares of the energy company’s stock worth $922,000 after buying an additional 533 shares during the last quarter. HITE Hedge Asset Management LLC boosted its stake in shares of Suburban Propane Partners, L.P. by 1,349.6% in the second quarter. HITE Hedge Asset Management LLC now owns 325,112 shares of the energy company’s stock worth $7,734,000 after buying an additional 302,684 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Suburban Propane Partners, L.P. by 8.8% in the second quarter. Federated Investors Inc. PA now owns 177,378 shares of the energy company’s stock worth $4,220,000 after buying an additional 14,390 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Suburban Propane Partners, L.P. by 1.8% in the second quarter. Blair William & Co. IL now owns 49,010 shares of the energy company’s stock worth $1,166,000 after buying an additional 845 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new stake in shares of Suburban Propane Partners, L.P. during the second quarter worth about $250,000. Institutional investors and hedge funds own 28.41% of the company’s stock.

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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