Stifel Nicolaus upgraded shares of Suburban Propane Partners LP (NYSE:SPH) from a hold rating to a buy rating in a report issued on Thursday. They currently have $36.00 target price on the stock, up from their previous target price of $34.00.
Several other equities analysts have also weighed in on SPH. Argus reissued a hold rating on shares of Suburban Propane Partners in a research report on Monday, July 11th. Zacks Investment Research raised shares of Suburban Propane Partners from a strong sell rating to a hold rating in a research report on Wednesday, July 13th. Finally, Janney Montgomery Scott assumed coverage on shares of Suburban Propane Partners in a research report on Wednesday, July 20th. They set a neutral rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $34.43.
Suburban Propane Partners (NYSE:SPH) opened at 33.28 on Thursday. The firm has a 50-day moving average of $32.98 and a 200 day moving average of $32.74. Suburban Propane Partners has a 52-week low of $20.93 and a 52-week high of $37.10. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 289.39 and a beta of 0.69.
Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.14. The company earned $205.10 million during the quarter, compared to the consensus estimate of $218.29 million. Suburban Propane Partners’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.67) earnings per share. On average, equities research analysts forecast that Suburban Propane Partners will post $0.42 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the company. State Street Corp increased its stake in Suburban Propane Partners by 4.1% in the first quarter. State Street Corp now owns 54,876 shares of the company’s stock valued at $1,640,000 after buying an additional 2,147 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Suburban Propane Partners by 6.0% in the first quarter. Rafferty Asset Management LLC now owns 72,551 shares of the company’s stock worth $2,169,000 after buying an additional 4,087 shares during the period. Williams Jones & Associates LLC purchased a new position in shares of Suburban Propane Partners during the first quarter worth about $238,000. National Planning Corp increased its position in shares of Suburban Propane Partners by 4.0% in the first quarter. National Planning Corp now owns 11,188 shares of the company’s stock worth $339,000 after buying an additional 429 shares during the period. Finally, Harvest Fund Advisors LLC purchased a new position in shares of Suburban Propane Partners during the first quarter worth about $11,961,000.
About Suburban Propane Partners
Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.
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