Suburban Propane Partners (NYSE:SPH) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Suburban Propane's stock briefly crossed above its 200-day moving average
• Analysts have turned more positive recently — Argus and Weiss upgraded the shares (to strong-buy and buy, respectively) and MarketBeat shows a consensus rating of Buy (one Strong Buy, one Buy, one Hold).
• The company beat EPS estimates ($0.69 vs. $0.53) but missed revenue expectations, and it pays a $1.30 annual dividend (approximately a 6.9% yield) with a payout ratio of about 64%.

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.35 and traded as high as $19.46. Suburban Propane Partners shares last traded at $18.9310, with a volume of 149,810 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPH shares. Zacks Research upgraded shares of Suburban Propane Partners to a "hold" rating in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of Suburban Propane Partners from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, February 18th. Finally, Argus upgraded shares of Suburban Propane Partners to a "strong-buy" rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Suburban Propane Partners Stock Down 1.7%

The company has a debt-to-equity ratio of 2.11, a current ratio of 0.87 and a quick ratio of 0.61. The business's 50 day moving average price is $20.17 and its 200-day moving average price is $19.35. The company has a market cap of $1.26 billion, a P/E ratio of 9.33 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The energy company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.16. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. The firm had revenue of $370.39 million during the quarter, compared to analysts' expectations of $392.00 million.

Suburban Propane Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Investors of record on Tuesday, February 3rd were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.9%. The ex-dividend date was Tuesday, February 3rd. Suburban Propane Partners's payout ratio is 64.04%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. raised its position in Suburban Propane Partners by 5.1% in the 4th quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company's stock worth $279,049,000 after purchasing an additional 724,170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Suburban Propane Partners by 4.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company's stock worth $77,912,000 after purchasing an additional 192,154 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Suburban Propane Partners by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company's stock worth $28,795,000 after purchasing an additional 142,547 shares during the last quarter. JPMorgan Chase & Co. raised its position in Suburban Propane Partners by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,314,268 shares of the energy company's stock worth $24,367,000 after purchasing an additional 61,818 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. raised its position in Suburban Propane Partners by 24.5% in the 3rd quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company's stock worth $18,948,000 after purchasing an additional 200,000 shares during 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 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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