Suburban Propane Partners (NYSE:SPH) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Suburban Propane Partners' stock has been given a "hold (C)" rating by Weiss Ratings, reaffirming a conservative stance on the stock's performance.
• The company's latest earnings report showed a loss of ($0.23) per share, which fell short of the expected loss of ($0.17), and revenues also missed estimates.
• Significant institutional investors, including Osaic Holdings Inc. and State of Wyoming, have increased their positions in Suburban Propane Partners, indicating potential confidence in the stock despite current challenges.

Suburban Propane Partners (NYSE:SPH - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut shares of Suburban Propane Partners from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Suburban Propane Partners Price Performance

Shares of SPH traded down $0.05 during midday trading on Wednesday, hitting $18.69. 73,975 shares of the company traded hands, compared to its average volume of 108,507. The stock has a 50-day moving average of $18.49 and a 200-day moving average of $19.03. Suburban Propane Partners has a one year low of $16.92 and a one year high of $22.24. The firm has a market cap of $1.22 billion, a P/E ratio of 12.63 and a beta of 0.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.70 and a quick ratio of 0.46.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. grew its position in Suburban Propane Partners by 88.1% during the second quarter. Osaic Holdings Inc. now owns 61,748 shares of the energy company's stock valued at $1,144,000 after acquiring an additional 28,921 shares during the last quarter. State of Wyoming boosted its stake in shares of Suburban Propane Partners by 734.2% during the second quarter. State of Wyoming now owns 27,053 shares of the energy company's stock valued at $501,000 after purchasing an additional 23,810 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Suburban Propane Partners by 101.2% during the second quarter. Corient Private Wealth LLC now owns 29,176 shares of the energy company's stock valued at $541,000 after purchasing an additional 14,674 shares during the period. Bank of America Corp DE boosted its stake in shares of Suburban Propane Partners by 65.7% during the second quarter. Bank of America Corp DE now owns 98,158 shares of the energy company's stock valued at $1,819,000 after purchasing an additional 38,937 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Suburban Propane Partners during the second quarter valued at approximately $2,278,000. 30.94% of the stock is currently owned by institutional investors.

About Suburban Propane Partners

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.

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