Suburban Propane Partners (NYSE:SPH) Upgraded to “Buy” by UBS Group

Suburban Propane Partners (NYSE:SPH) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, January 3rd, 99wallstreet.com reports. The brokerage presently has a $29.00 target price on the energy company’s stock, up from their previous target price of $26.00. UBS Group’s price objective points to a potential upside of 11.93% from the company’s current price.

Separately, Zacks Investment Research upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Suburban Propane Partners (NYSE:SPH) traded up $0.36 during mid-day trading on Wednesday, reaching $25.91. 230,800 shares of the company traded hands, compared to its average volume of 382,722. Suburban Propane Partners has a 1-year low of $22.71 and a 1-year high of $32.17. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $1,590.00, a P/E ratio of 41.79 and a beta of 0.64.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, November 16th. The energy company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.04. Suburban Propane Partners had a return on equity of 5.81% and a net margin of 3.20%. The company had revenue of $197.11 million for the quarter, compared to the consensus estimate of $187.97 million. During the same quarter in the prior year, the company earned ($0.99) EPS. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. sell-side analysts expect that Suburban Propane Partners will post 1.49 EPS for the current fiscal year.

In other news, VP Sandra N. Zwickel sold 4,175 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $24.10, for a total value of $100,617.50. Following the completion of the sale, the vice president now directly owns 21,060 shares in the company, valued at $507,546. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Keith P. Onderdonk sold 4,500 shares of Suburban Propane Partners stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $23.33, for a total value of $104,985.00. Following the completion of the sale, the insider now owns 28,665 shares of the company’s stock, valued at $668,754.45. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its stake in Suburban Propane Partners by 1.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 38,761 shares of the energy company’s stock valued at $922,000 after acquiring an additional 533 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Suburban Propane Partners by 16.2% during the 2nd quarter. Wells Fargo & Company MN now owns 165,026 shares of the energy company’s stock worth $3,926,000 after purchasing an additional 23,019 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Suburban Propane Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 15,384 shares of the energy company’s stock worth $366,000 after acquiring an additional 861 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Suburban Propane Partners by 31.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,008 shares of the energy company’s stock worth $286,000 after acquiring an additional 2,903 shares during the last quarter. Finally, Bruderman Asset Management LLC acquired a new position in shares of Suburban Propane Partners during the 2nd quarter worth approximately $121,000. Hedge funds and other institutional investors own 25.82% of the company’s stock.

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About Suburban Propane Partners

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

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