Suburban Propane Partners (NYSE:SPH) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Suburban Propane Partners from “Buy” to “Hold,” although other analysts remain positive and MarketBeat data shows an average “Strong Buy” rating.
• SPH reported quarterly EPS of $2.06, beating the $1.74 consensus estimate, while revenue of $551.21 million fell short of the $575 million forecast.
• The stock opened at $18.68, with a market capitalization of approximately $1.24 billion and a 12-month trading range of $16.53 to $20.80; institutional investors own about 30.94% of shares.

Suburban Propane Partners (NYSE:SPH - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

SPH has been the subject of a number of other reports. Zacks Research raised Suburban Propane Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Weiss Ratings lowered Suburban Propane Partners from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Suburban Propane Partners Price Performance

NYSE:SPH opened at $18.68 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.69. The firm has a market cap of $1.24 billion, a PE ratio of 9.39 and a beta of 0.42. Suburban Propane Partners has a 12 month low of $16.53 and a 12 month high of $20.80. The company's 50-day moving average price is $18.26 and its two-hundred day moving average price is $19.35.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The energy company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.32. The company had revenue of $551.21 million during the quarter, compared to analyst estimates of $575.00 million. Suburban Propane Partners had a net margin of 9.57% and a return on equity of 19.45%. On average, equities analysts anticipate that Suburban Propane Partners will post 2.05 EPS for the current fiscal year.

Institutional Trading of Suburban Propane Partners

Hedge funds have recently modified their holdings of the stock. Truvestments Capital LLC acquired a new position in Suburban Propane Partners during the 4th quarter worth $37,000. Triumph Capital Management acquired a new stake in shares of Suburban Propane Partners in the 3rd quarter valued at $50,000. Advisory Services Network LLC acquired a new stake in shares of Suburban Propane Partners in the 3rd quarter valued at $62,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Suburban Propane Partners by 91.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 4,440 shares of the energy company's stock valued at $81,000 after acquiring an additional 2,121 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Suburban Propane Partners by 669.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 4,671 shares of the energy company's stock valued at $87,000 after acquiring an additional 4,064 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.