PNC Financial Services Group Inc. lowered its position in shares of Suburban Propane Partners LP (NYSE:SPH) by 6.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,904 shares of the company’s stock after selling 247 shares during the period. PNC Financial Services Group Inc.’s holdings in Suburban Propane Partners were worth $130,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Financial Architects Inc boosted its position in shares of Suburban Propane Partners by 7.9% in the second quarter. Financial Architects Inc now owns 3,395 shares of the company’s stock worth $113,000 after buying an additional 250 shares during the last quarter. Agran Libbie purchased a new position in shares of Suburban Propane Partners during the second quarter worth approximately $214,000. Ausdal Financial Partners Inc. purchased a new position in shares of Suburban Propane Partners during the second quarter worth approximately $217,000. Williams Jones & Associates LLC purchased a new position in shares of Suburban Propane Partners during the first quarter worth approximately $238,000. Finally, National Planning Corp boosted 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 last quarter.
Suburban Propane Partners LP (NYSE:SPH) traded up 1.7723% on Monday, hitting $32.5875. The stock had a trading volume of 42,479 shares. Suburban Propane Partners LP has a one year low of $20.93 and a one year high of $37.10. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 283.3696 and a beta of 0.69. The company’s 50-day moving average price is $33.21 and its 200 day moving average price is $32.61.
Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.14. The firm earned $205.10 million during the quarter, compared to analysts’ expectations of $218.29 million. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.67) earnings per share. Analysts expect that Suburban Propane Partners LP will post $0.42 earnings per share for the current year.
SPH has been the subject of a number of research analyst reports. Zacks Investment Research raised Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Thursday. Argus reaffirmed a “hold” rating on shares of Suburban Propane Partners in a report on Monday, July 11th. Finally, Janney Montgomery Scott assumed coverage on Suburban Propane Partners in a report on Wednesday, July 20th. They issued a “neutral” rating and a $30.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Suburban Propane Partners currently has an average rating of “Hold” and an average target price of $33.43.
Suburban Propane Partners Company Profile
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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