ValuEngine Downgrades Suburban Propane Partners (SPH) to Sell

Suburban Propane Partners (NYSE:SPH) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Separately, Zacks Investment Research downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Suburban Propane Partners presently has a consensus rating of “Sell” and an average target price of $26.33.

SPH opened at $22.03 on Tuesday. The firm has a market capitalization of $1.35 billion, a PE ratio of 17.77, a P/E/G ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.98 and a quick ratio of 0.74. Suburban Propane Partners has a 12 month low of $18.63 and a 12 month high of $25.56.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, February 7th. The energy company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.31). The company had revenue of $377.10 million during the quarter, compared to the consensus estimate of $402.18 million. Suburban Propane Partners had a return on equity of 12.26% and a net margin of 4.98%. Research analysts expect that Suburban Propane Partners will post 1.54 earnings per share for the current year.

In related news, Director Jane Swift sold 2,700 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $23.13, for a total transaction of $62,451.00. Following the transaction, the director now directly owns 25,080 shares in the company, valued at approximately $580,100.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.75% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in SPH. Abrams Capital Management L.P. grew its stake in Suburban Propane Partners by 5.5% during the 3rd quarter. Abrams Capital Management L.P. now owns 2,988,346 shares of the energy company’s stock valued at $70,316,000 after purchasing an additional 156,237 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Suburban Propane Partners by 17.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,304,288 shares of the energy company’s stock valued at $25,134,000 after purchasing an additional 193,972 shares during the last quarter. Bank of Montreal Can grew its stake in Suburban Propane Partners by 2.6% during the 3rd quarter. Bank of Montreal Can now owns 332,710 shares of the energy company’s stock valued at $7,829,000 after purchasing an additional 8,573 shares during the last quarter. Citigroup Inc. grew its stake in Suburban Propane Partners by 2,194.5% during the 4th quarter. Citigroup Inc. now owns 238,350 shares of the energy company’s stock valued at $4,593,000 after purchasing an additional 227,962 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Suburban Propane Partners by 468.4% during the 2nd quarter. Renaissance Technologies LLC now owns 216,067 shares of the energy company’s stock valued at $5,075,000 after purchasing an additional 178,057 shares during the last quarter. Hedge funds and other institutional investors own 30.42% of the company’s stock.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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