Suburban Propane Partners (NYSE:SPH – Get Free Report) was downgraded by Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. They presently have a $17.00 price objective on the energy company’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 3.74% from the company’s current price.
A number of other research firms also recently weighed in on SPH. Argus raised their price target on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. StockNews.com cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Suburban Propane Partners has an average rating of “Hold” and a consensus price target of $19.67.
Check Out Our Latest Analysis on Suburban Propane Partners
Suburban Propane Partners Stock Down 0.2 %
Suburban Propane Partners (NYSE:SPH – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). Suburban Propane Partners had a net margin of 7.28% and a return on equity of 16.69%. The firm had revenue of $254.61 million for the quarter.
Institutional Investors Weigh In On Suburban Propane Partners
A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Suburban Propane Partners by 52.1% in the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after acquiring an additional 734 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Suburban Propane Partners by 64.5% during the first quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock worth $52,000 after buying an additional 1,000 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Suburban Propane Partners in the second quarter worth approximately $193,000. Biechele Royce Advisors acquired a new position in Suburban Propane Partners in the second quarter worth approximately $211,000. Finally, LRI Investments LLC bought a new position in shares of Suburban Propane Partners in the first quarter valued at $255,000. 30.94% of the stock is currently owned by institutional investors and hedge funds.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.
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