Suburban Propane Partners (NYSE:SPH) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Suburban Propane Partners, L.P. (NYSE:SPH)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.67 and traded as high as $19.03. Suburban Propane Partners shares last traded at $18.78, with a volume of 122,715 shares traded.

Analysts Set New Price Targets

SPH has been the topic of a number of research reports. Wells Fargo & Company downgraded Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a report on Friday, August 30th. StockNews.com cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Suburban Propane Partners Stock Up 0.1 %

The stock has a market cap of $1.20 billion, a P/E ratio of 12.52 and a beta of 0.44. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98. The business has a 50-day simple moving average of $18.06 and a 200-day simple moving average of $18.67.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). The company had revenue of $254.61 million for the quarter. Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be given a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.30 annualized dividend and a dividend yield of 6.92%. Suburban Propane Partners’s dividend payout ratio is 86.67%.

Insider Activity

In other news, Director Harold R. Logan, Jr. sold 2,500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.37, for a total value of $43,425.00. Following the completion of the sale, the director now directly owns 37,015 shares of the company’s stock, valued at approximately $642,950.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPH. Private Advisor Group LLC raised its stake in shares of Suburban Propane Partners by 12.6% in the first quarter. Private Advisor Group LLC now owns 61,549 shares of the energy company’s stock valued at $1,257,000 after purchasing an additional 6,910 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Suburban Propane Partners by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock valued at $977,000 after purchasing an additional 624 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Suburban Propane Partners by 64.5% in the first quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,000 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Suburban Propane Partners by 28.6% in the first quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock valued at $470,000 after purchasing an additional 5,113 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in shares of Suburban Propane Partners by 11.9% in the first quarter. Foundry Partners LLC now owns 210,111 shares of the energy company’s stock valued at $4,293,000 after purchasing an additional 22,368 shares in the last quarter. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Suburban Propane Partners Company Profile

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.