Zacks Research Upgrades Suburban Propane Partners (NYSE:SPH) to “Strong-Buy”

Suburban Propane Partners (NYSE:SPH) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also issued reports on SPH. Argus raised Suburban Propane Partners to a “strong-buy” rating in a research note on Wednesday, January 21st. Weiss Ratings raised Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Suburban Propane Partners Trading Up 1.3%

Suburban Propane Partners stock opened at $18.99 on Monday. The stock has a market cap of $1.26 billion, a PE ratio of 9.35 and a beta of 0.44. The stock has a 50-day moving average price of $20.10 and a 200 day moving average price of $19.37. Suburban Propane Partners has a 52 week low of $17.30 and a 52 week high of $20.80. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 2.11.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.16. Suburban Propane Partners had a return on equity of 19.94% and a net margin of 9.30%.The firm had revenue of $370.39 million for the quarter, compared to analyst estimates of $392.00 million. Equities research analysts predict that Suburban Propane Partners will post 1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Suburban Propane Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in shares of Suburban Propane Partners by 3.1% in the 3rd quarter. Alps Advisors Inc. now owns 14,327,026 shares of the energy company’s stock valued at $267,199,000 after purchasing an additional 433,748 shares in the last quarter. Bowen Hanes & Co. Inc. lifted its stake in shares of Suburban Propane Partners by 24.5% in the 3rd quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after purchasing an additional 200,000 shares in the last quarter. SageGuard Financial Group LLC acquired a new position in shares of Suburban Propane Partners in the 4th quarter valued at about $1,087,000. ING Groep NV lifted its stake in shares of Suburban Propane Partners by 49.4% in the 3rd quarter. ING Groep NV now owns 118,000 shares of the energy company’s stock valued at $2,201,000 after purchasing an additional 39,000 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Suburban Propane Partners by 88.1% in the 2nd quarter. Osaic Holdings Inc. now owns 61,748 shares of the energy company’s stock valued at $1,144,000 after purchasing an additional 28,921 shares in the last quarter. 30.94% of the stock is owned by institutional investors and hedge funds.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.