Suburban Propane Partners (NYSE:SPH) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Shares crossed above the 200-day moving average — SPH rose above its 200-day MA of $19.27 (trading as high as $20.27) and last traded around $19.735 with volume of ~169,285 shares.
• Mixed fundamentals but positive analyst tone — the company beat EPS expectations ($0.69 vs. $0.53) while missing revenue forecasts, and analysts’ actions (Argus strong-buy, Weiss buy, Zacks hold) leave an average rating of “Buy.”
• High dividend yield with moderate payout and leverage — Suburban Propane pays a $0.325 quarterly dividend ($1.30 annualized) for a ~6.6% yield and a payout ratio of ~64%, while carrying a debt-to-equity ratio of about 2.11.

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.27 and traded as high as $20.27. Suburban Propane Partners shares last traded at $19.7350, with a volume of 169,285 shares.

Analyst Ratings Changes

SPH has been the topic of a number of research analyst reports. Zacks Research upgraded Suburban Propane Partners to a "hold" rating in a report 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 raised shares of Suburban Propane Partners to a "strong-buy" rating in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Suburban Propane Partners presently has an average rating of "Buy".

Suburban Propane Partners Trading Down 2.4%

The firm has a 50 day moving average of $20.25 and a 200 day moving average of $19.27. The firm has a market cap of $1.31 billion, a PE ratio of 9.72 and a beta of 0.42. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 2.11.

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, beating analysts' consensus estimates 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 business had revenue of $370.39 million for the quarter, compared to analysts' expectations of $392.00 million.

Suburban Propane Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 10th. Investors of record on Tuesday, February 3rd were issued a dividend of $0.325 per share. The ex-dividend date was Tuesday, February 3rd. This represents a $1.30 annualized dividend and a yield of 6.6%. Suburban Propane Partners's dividend payout ratio is currently 64.04%.

Institutional Trading of Suburban Propane Partners

A number of institutional investors have recently modified their holdings of the company. Clearwave Capital LLC purchased a new stake in Suburban Propane Partners in the fourth quarter worth $396,000. Aristides Capital LLC increased its position in Suburban Propane Partners by 4.3% during the 4th quarter. Aristides Capital LLC now owns 21,174 shares of the energy company's stock valued at $393,000 after purchasing an additional 880 shares during the period. Jump Financial LLC increased its position in Suburban Propane Partners by 36.6% during the 4th quarter. Jump Financial LLC now owns 22,831 shares of the energy company's stock valued at $423,000 after purchasing an additional 6,119 shares during the period. Royal Bank of Canada raised its holdings in Suburban Propane Partners by 6.3% in the 4th quarter. Royal Bank of Canada now owns 27,871 shares of the energy company's stock worth $517,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Suburban Propane Partners in the 4th quarter worth about $37,000. 30.94% of the stock is currently owned by hedge funds and other 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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