Commonwealth Equity Services LLC Buys 50,212 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Commonwealth Equity Services LLC increased its stake in Suburban Propane Partners, L.P. (NYSE:SPH) by 33.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 199,405 shares of the energy company’s stock after purchasing an additional 50,212 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.31% of Suburban Propane Partners worth $3,787,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Suburban Propane Partners by 1.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock worth $977,000 after purchasing an additional 624 shares during the period. CWM LLC raised its holdings in shares of Suburban Propane Partners by 52.1% in the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock worth $41,000 after purchasing an additional 734 shares during the period. Geneos Wealth Management Inc. raised its holdings 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. Private Advisor Group LLC raised its holdings in shares of Suburban Propane Partners by 2.2% in the 4th quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock worth $970,000 after purchasing an additional 1,200 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Suburban Propane Partners by 28.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock worth $470,000 after purchasing an additional 5,113 shares during the period. Institutional investors own 30.94% of the company’s stock.

Analysts Set New Price Targets

SPH has been the subject of a number of recent research reports. Argus lifted 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 note on Monday, June 10th. Wells Fargo & Company lowered shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective for the company. in a research note on Friday, August 30th. Finally, StockNews.com lowered shares of 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 given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.67.

Suburban Propane Partners Stock Down 0.5 %

SPH opened at $17.52 on Tuesday. The company has a fifty day moving average price of $18.09 and a 200-day moving average price of $19.27. The firm has a market capitalization of $1.12 billion, a P/E ratio of 10.37 and a beta of 0.44. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.65 and a quick ratio of 0.45. Suburban Propane Partners, L.P. has a one year low of $14.47 and a one year high of $22.33.

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

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.325 per share. The ex-dividend date was Tuesday, August 6th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.42%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 76.92%.

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.