JPMorgan Chase & Co. reduced its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 745,078 shares of the energy company’s stock after selling 200,273 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.22% of Suburban Propane Partners, L.P. worth $17,725,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Suburban Propane Partners, L.P. by 1.5% during the 1st quarter. HighTower Advisors LLC now owns 16,369 shares of the energy company’s stock worth $443,000 after acquiring an additional 247 shares in the last quarter. First Heartland Consultants Inc. boosted its position in shares of Suburban Propane Partners, L.P. by 3.2% during the 2nd quarter. First Heartland Consultants Inc. now owns 15,939 shares of the energy company’s stock worth $379,000 after acquiring an additional 500 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Suburban Propane Partners, L.P. by 1.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 38,761 shares of the energy company’s stock worth $922,000 after acquiring an additional 533 shares in the last quarter. Investment Centers of America Inc. boosted its position in shares of Suburban Propane Partners, L.P. by 5.1% during the 1st quarter. Investment Centers of America Inc. now owns 11,520 shares of the energy company’s stock worth $312,000 after acquiring an additional 563 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Suburban Propane Partners, L.P. by 1.8% during the 2nd quarter. Blair William & Co. IL now owns 49,010 shares of the energy company’s stock worth $1,166,000 after acquiring an additional 845 shares in the last quarter. 25.57% of the stock is owned by institutional investors and hedge funds.

In related news, Director Harold R. Logan, Jr. sold 2,127 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $24.20, for a total value of $51,473.40. Following the completion of the sale, the director now directly owns 24,074 shares of the company’s stock, valued at $582,590.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by insiders.

TRADEMARK VIOLATION WARNING: This report was first posted by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.dailypolitical.com/2017/09/23/jpmorgan-chase-co-has-17-73-million-stake-in-suburban-propane-partners-l-p-sph.html.

Several research firms have recently issued reports on SPH. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective on shares of Suburban Propane Partners, L.P. in a research report on Friday, August 18th. BidaskClub cut Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Citigroup Inc. raised Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $32.00 to $27.00 in a research report on Thursday, July 27th. Finally, ValuEngine cut Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.80.

Shares of Suburban Propane Partners, L.P. (NYSE SPH) opened at 24.34 on Friday. Suburban Propane Partners, L.P. has a 12 month low of $22.71 and a 12 month high of $34.45. The company has a 50 day moving average price of $24.20 and a 200-day moving average price of $24.70. The firm has a market capitalization of $1.49 billion, a PE ratio of 52.57 and a beta of 0.65.

Suburban Propane Partners, L.P. (NYSE:SPH) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.11. The firm had revenue of $222.90 million during the quarter, compared to analyst estimates of $221.93 million. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. Suburban Propane Partners, L.P.’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.49) earnings per share. Equities research analysts expect that Suburban Propane Partners, L.P. will post $0.59 EPS for the current fiscal year.

Suburban Propane Partners, L.P. 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.

Want to see what other hedge funds are holding SPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suburban Propane Partners, L.P. (NYSE:SPH).

Institutional Ownership by Quarter for Suburban Propane Partners, L.P. (NYSE:SPH)

Receive News & Ratings for Suburban Propane Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suburban Propane Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.