Argus Raises Suburban Propane Partners (NYSE:SPH) Price Target to $25.00

Suburban Propane Partners (NYSE:SPHFree Report) had its price objective increased by Argus from $24.00 to $25.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the energy company’s stock.

Separately, StockNews.com lowered Suburban Propane Partners from a buy rating to a hold rating in a research report on Tuesday, May 28th.

View Our Latest Analysis on Suburban Propane Partners

Suburban Propane Partners Trading Down 1.1 %

Shares of SPH opened at $20.70 on Monday. Suburban Propane Partners has a fifty-two week low of $14.42 and a fifty-two week high of $22.33. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 12.25 and a beta of 0.46. The firm has a 50 day moving average price of $19.72 and a 200-day moving average price of $19.29. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.65 and a current ratio of 0.88.

Suburban Propane Partners (NYSE:SPHGet Free Report) last issued its earnings results on Thursday, May 9th. The energy company reported $1.72 EPS for the quarter. Suburban Propane Partners had a net margin of 8.02% and a return on equity of 18.91%. The company had revenue of $498.09 million for the quarter.

Suburban Propane Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend was Monday, May 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is 76.92%.

Insider Transactions at Suburban Propane Partners

In related news, Director Harold R. Logan, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $19.18, for a total transaction of $57,540.00. Following the transaction, the director now owns 39,515 shares in the company, valued at approximately $757,897.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Suburban Propane Partners

Several large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in shares of Suburban Propane Partners by 64.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock worth $52,000 after purchasing an additional 1,000 shares during the period. AdvisorNet Financial Inc boosted its position in Suburban Propane Partners by 16.5% during the 4th quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock valued at $74,000 after acquiring an additional 591 shares in the last quarter. Spirit of America Management Corp NY bought a new stake in Suburban Propane Partners during the 4th quarter valued at approximately $178,000. LRI Investments LLC purchased a new position in shares of Suburban Propane Partners during the 1st quarter worth approximately $255,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Suburban Propane Partners in the 1st quarter worth approximately $295,000. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

(Get Free Report)

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.

Further Reading

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