Suburban Propane Partners (NYSE:SPH) Lowered to Underweight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Suburban Propane Partners (NYSE:SPH) from an equal weight rating to an underweight rating in a research note issued to investors on Friday morning, MarketBeat.com reports. Wells Fargo & Company currently has $17.00 target price on the energy company’s stock.

SPH has been the subject of a number of other research reports. StockNews.com lowered Suburban Propane Partners from a buy rating to a hold rating in a report on Tuesday, August 13th. Argus raised their price objective on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the company a buy rating in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $19.67.

Suburban Propane Partners Stock Performance

Shares of SPH stock opened at $17.48 on Friday. Suburban Propane Partners has a 12 month low of $14.45 and a 12 month high of $22.33. The stock has a market capitalization of $1.12 billion, a P/E ratio of 10.34 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.98. The firm’s 50 day moving average is $18.26 and its 200 day moving average is $19.38.

Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were paid a $0.325 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.30 dividend on an annualized basis and a yield of 7.44%. Suburban Propane Partners’s dividend payout ratio is currently 76.92%.

Institutional Trading of Suburban Propane Partners

A number of large investors have recently modified their holdings of the business. Blackstone Inc. increased its position in shares of Suburban Propane Partners by 27.1% in the fourth quarter. Blackstone Inc. now owns 328,281 shares of the energy company’s stock worth $5,830,000 after purchasing an additional 70,000 shares during the last quarter. UBS Group AG grew its stake in Suburban Propane Partners by 428.9% in the 4th quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock worth $6,930,000 after buying an additional 316,430 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Suburban Propane Partners in the 4th quarter worth $318,000. Janney Montgomery Scott LLC raised its position in shares of Suburban Propane Partners by 1.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock valued at $977,000 after buying an additional 624 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Suburban Propane Partners during the 1st quarter worth $295,000. Institutional investors own 30.94% of the company’s stock.

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.