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

Key Points

• Suburban Propane Partners has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen.
• The company's latest quarterly earnings report revealed a loss of ($0.23) per share, missing estimates by ($0.06) and reported revenue of $260.15 million, below analysts' expectations of $270 million.
• Insider Harold R. Logan, Jr. sold 6,900 shares of Suburban Propane Partners, marking a 14.96% decrease in his position within the company.

Wall Street Zen cut shares of Suburban Propane Partners (NYSE:SPH - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Suburban Propane Partners Trading Up 1.4%

Shares of SPH stock traded up $0.25 during mid-day trading on Friday, reaching $18.64. 65,562 shares of the stock traded hands, compared to its average volume of 203,250. The stock's fifty day simple moving average is $18.44 and its two-hundred day simple moving average is $19.70. Suburban Propane Partners has a 1-year low of $16.42 and a 1-year high of $22.24. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 12.59 and a beta of 0.19. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.06). The business had revenue of $260.15 million during the quarter, compared to analyst estimates of $270.00 million. Suburban Propane Partners had a net margin of 6.79% and a return on equity of 16.12%.

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a dividend of $0.325 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.30 annualized dividend and a yield of 7.0%. Suburban Propane Partners's payout ratio is 87.84%.

Insiders Place Their Bets

In related news, Director Harold R. Logan, Jr. sold 6,900 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $19.14, for a total transaction of $132,066.00. Following the completion of the sale, the director owned 39,227 shares in the company, valued at approximately $750,804.78. This trade represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently added to or reduced their stakes in SPH. JPMorgan Chase & Co. grew its stake in Suburban Propane Partners by 18.7% during the second quarter. JPMorgan Chase & Co. now owns 1,266,303 shares of the energy company's stock valued at $23,465,000 after acquiring an additional 199,693 shares in the last quarter. Cherokee Insurance Co purchased a new stake in shares of Suburban Propane Partners in the 2nd quarter valued at about $296,000. PNC Financial Services Group Inc. raised its holdings in shares of Suburban Propane Partners by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 45,354 shares of the energy company's stock valued at $840,000 after acquiring an additional 708 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Suburban Propane Partners by 44.7% in the 2nd quarter. Allworth Financial LP now owns 11,514 shares of the energy company's stock valued at $213,000 after acquiring an additional 3,557 shares in the last quarter. Finally, Ethos Financial Group LLC raised its holdings in shares of Suburban Propane Partners by 6.6% in the 2nd quarter. Ethos Financial Group LLC now owns 21,833 shares of the energy company's stock valued at $405,000 after acquiring an additional 1,344 shares in the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.