Suburban Propane Partners (NYSE:SPH) Reaches New 1-Year Low - Here's Why

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $16.31 and last traded at $16.60, with a volume of 329498 shares changing hands. The stock had previously closed at $16.47.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPH. Wall Street Zen lowered Suburban Propane Partners from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings cut Suburban Propane Partners from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, September 11th. Finally, Zacks Research downgraded Suburban Propane Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

Suburban Propane Partners Price Performance

The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 1.72. The firm's 50-day moving average is $17.57 and its 200-day moving average is $18.57. The company has a market cap of $1.11 billion, a PE ratio of 8.47, a PEG ratio of 2.01 and a beta of 0.41.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.11). The company had revenue of $261.38 million during the quarter, compared to the consensus estimate of $255.00 million. Suburban Propane Partners had a return on equity of 18.57% and a net margin of 9.37%. On average, equities analysts anticipate that Suburban Propane Partners, L.P. will post 2.05 EPS for the current year.

Suburban Propane Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were given a $0.3250 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.30 annualized dividend and a dividend yield of 7.8%. Suburban Propane Partners's dividend payout ratio is currently 66.33%.

Insider Activity at Suburban Propane Partners

In other news, VP Bryon Koepke sold 2,848 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $17.65, for a total value of $50,267.20. Following the completion of the transaction, the vice president owned 100,714 shares in the company, valued at $1,777,602.10. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 3,360 shares of company stock valued at $58,710. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Suburban Propane Partners

A number of institutional investors have recently added to or reduced their stakes in SPH. Alps Advisors Inc. lifted its position in Suburban Propane Partners by 5.1% during the fourth quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company's stock valued at $279,049,000 after buying an additional 724,170 shares during the period. ING Groep NV grew its position in shares of Suburban Propane Partners by 16.9% in the 4th quarter. ING Groep NV now owns 138,000 shares of the energy company's stock worth $2,559,000 after buying an additional 20,000 shares during the period. State of Wyoming grew its position in shares of Suburban Propane Partners by 46.9% in the 4th quarter. State of Wyoming now owns 33,573 shares of the energy company's stock worth $622,000 after buying an additional 10,722 shares during the period. Arrow Investment Advisors LLC bought a new position in shares of Suburban Propane Partners in the 2nd quarter worth about $193,000. Finally, Wealthstar Advisors LLC increased its stake in shares of Suburban Propane Partners by 4.7% in the 2nd quarter. Wealthstar Advisors LLC now owns 34,162 shares of the energy company's stock worth $584,000 after acquiring an additional 1,538 shares in the last quarter. Institutional investors own 30.94% of the company's stock.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P. NYSE: SPH is an energy distributor and marketer that supplies propane, fuel oil, and other refined fuels to residential, commercial, industrial, agricultural, and government customers. The company also markets natural gas and electricity and provides related energy services.

Its offerings include propane delivery for home heating, cooking, and equipment operation, as well as fuel delivery and services for businesses and agricultural users. Suburban Propane also sells and services heating equipment, propane-powered appliances, and hearth products, and provides installation, maintenance, and repair services in selected markets.

The company traces its history to 1928 and operates through a network serving customers across approximately 42 states, primarily in the United States.

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