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. “
Separately, ValuEngine lowered shares of Suburban Propane Partners from a hold rating to a sell rating in a research note on Wednesday, October 2nd.
Shares of SPH opened at $23.22 on Wednesday. The company’s fifty day moving average is $23.48 and its 200-day moving average is $23.41. Suburban Propane Partners has a 12 month low of $18.63 and a 12 month high of $24.89. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 4.08 and a beta of 0.88. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 2.42.
Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.05). Suburban Propane Partners had a return on equity of 13.31% and a net margin of 5.34%. The business had revenue of $214.21 million for the quarter, compared to analyst estimates of $215.76 million. As a group, research analysts predict that Suburban Propane Partners will post 1.17 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. acquired a new position in Suburban Propane Partners in the 2nd quarter valued at $184,668,000. Clearbridge Investments LLC grew its stake in Suburban Propane Partners by 12.6% in the 1st quarter. Clearbridge Investments LLC now owns 812,827 shares of the energy company’s stock valued at $18,215,000 after buying an additional 90,800 shares during the last quarter. Renaissance Technologies LLC grew its stake in Suburban Propane Partners by 188.4% in the 2nd quarter. Renaissance Technologies LLC now owns 169,367 shares of the energy company’s stock valued at $4,114,000 after buying an additional 110,648 shares during the last quarter. Van ECK Associates Corp grew its stake in Suburban Propane Partners by 2.3% in the 2nd quarter. Van ECK Associates Corp now owns 152,848 shares of the energy company’s stock valued at $3,713,000 after buying an additional 3,399 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Suburban Propane Partners by 3.3% in the 1st quarter. California Public Employees Retirement System now owns 86,766 shares of the energy company’s stock valued at $1,944,000 after buying an additional 2,790 shares during the last quarter. Institutional investors own 31.17% of the company’s stock.
Suburban Propane Partners Company Profile
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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