Suburban Propane Partners (NYSE:SPH) Upgraded to “Strong-Buy” at Argus

Argus upgraded shares of Suburban Propane Partners (NYSE:SPH) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Suburban Propane Partners in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Suburban Propane Partners Trading Down 0.6%

Suburban Propane Partners stock opened at $19.53 on Wednesday. Suburban Propane Partners has a one year low of $17.30 and a one year high of $22.24. The company’s fifty day moving average price is $18.92 and its two-hundred day moving average price is $18.65. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.55 and a quick ratio of 0.31. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.91 and a beta of 0.41.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, November 13th. The energy company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Suburban Propane Partners had a return on equity of 16.31% and a net margin of 7.44%.The company had revenue of $211.38 million for the quarter, compared to the consensus estimate of $227.00 million.

Suburban Propane Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Tuesday, February 3rd will be issued a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $1.30 dividend on an annualized basis and a yield of 6.7%. Suburban Propane Partners’s dividend payout ratio (DPR) is 79.27%.

Institutional Investors Weigh In On Suburban Propane Partners

Hedge funds have recently modified their holdings of the business. Founders Capital Management grew its stake in shares of Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock worth $35,000 after acquiring an additional 677 shares during the last quarter. Triumph Capital Management acquired a new stake in Suburban Propane Partners in the 3rd quarter worth $50,000. Advisory Services Network LLC acquired a new stake in Suburban Propane Partners in the 3rd quarter worth $62,000. Geneos Wealth Management Inc. increased its holdings in shares of Suburban Propane Partners by 37.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock worth $68,000 after purchasing an additional 1,000 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of Suburban Propane Partners in the third quarter valued at about $76,000. 30.94% of the stock is owned by institutional investors.

About Suburban Propane Partners

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.