Suburban Propane Partners (NYSE:SPH) Sees Large Volume Increase - What's Next?

Key Points

• Analysts have been bullish on SPH lately — Zacks and Argus upgraded the stock to Strong Buy and Weiss to Buy, leaving an average rating of Strong Buy.
• In the most recent quarter Suburban Propane reported EPS of $0.69, beating estimates by $0.16, but revenue of $370.4M missed the $392M consensus; the company trades at a P/E of about 9.9 and has a $1.33B market cap.
• The partnership recently declared a quarterly dividend of $0.325 (annualized $1.30) for a 6.5% yield

Shares of Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) saw an uptick in trading volume on Monday . 123,491 shares traded hands during trading, a decline of 1% from the previous session's volume of 124,906 shares.The stock last traded at $20.2630 and had previously closed at $19.89.

Analyst Ratings Changes

A number of research firms have issued reports on SPH. Zacks Research upgraded Suburban Propane Partners from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. Argus upgraded Suburban Propane Partners to a "strong-buy" rating in a report on Wednesday, January 21st. Finally, Weiss Ratings upgraded Suburban Propane Partners from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

Suburban Propane Partners Trading Up 0.8%

The business has a fifty day moving average of $20.01 and a 200-day moving average of $19.43. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.61 and a current ratio of 0.87. The company has a market capitalization of $1.33 billion, a P/E ratio of 9.88 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last issued its earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.16. Suburban Propane Partners had a return on equity of 19.94% and a net margin of 9.30%.The company had revenue of $370.39 million for the quarter, compared to analysts' expectations of $392.00 million. Analysts anticipate that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current fiscal year.

Suburban Propane Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 12th. Investors of record on Tuesday, May 5th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Tuesday, May 5th. Suburban Propane Partners's dividend payout ratio (DPR) is currently 64.04%.

Hedge Funds Weigh In On Suburban Propane Partners

A number of large investors have recently modified their holdings of SPH. J. Safra Sarasin Holding AG purchased a new stake in Suburban Propane Partners in the 1st quarter valued at $350,000. Global Trust Asset Management LLC purchased a new stake in Suburban Propane Partners in the 1st quarter valued at $98,000. Greenup Street Wealth Management LLC raised its position in Suburban Propane Partners by 37.4% in the 1st quarter. Greenup Street Wealth Management LLC now owns 21,706 shares of the energy company's stock valued at $427,000 after buying an additional 5,906 shares during the last quarter. Clearwave Capital LLC purchased a new stake in Suburban Propane Partners in the 4th quarter valued at $396,000. Finally, Aristides Capital LLC raised its position in Suburban Propane Partners by 4.3% in the 4th quarter. Aristides Capital LLC now owns 21,174 shares of the energy company's stock valued at $393,000 after buying an additional 880 shares during the last quarter. 30.94% of the stock is currently owned by institutional investors.

Suburban Propane Partners Company Profile

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.

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