Suburban Propane Partners (NYSE:SPH) issued its quarterly earnings results on Thursday. The energy company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.31), MarketWatch Earnings reports. The business had revenue of $536.28 million during the quarter, compared to analysts’ expectations of $544.30 million. Suburban Propane Partners had a net margin of 3.27% and a return on equity of 6.57%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS.
Suburban Propane Partners traded down $0.07, reaching $22.34, during trading hours on Thursday, MarketBeat Ratings reports. 322,554 shares of the stock were exchanged, compared to its average volume of 178,444. The company has a quick ratio of 0.77, a current ratio of 1.05 and a debt-to-equity ratio of 2.37. Suburban Propane Partners has a 52 week low of $22.04 and a 52 week high of $22.83. The company has a market cap of $1.38 billion, a PE ratio of 31.91, a P/E/G ratio of 3.65 and a beta of 0.62.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 8th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 10.74%. The ex-dividend date is Monday, May 7th. Suburban Propane Partners’s dividend payout ratio is presently 342.86%.
In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $24.33, for a total transaction of $97,320.00. Following the transaction, the director now owns 21,641 shares of the company’s stock, valued at approximately $526,525.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.75% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new position in Suburban Propane Partners during the 4th quarter worth approximately $106,000. Bruderman Asset Management LLC bought a new position in Suburban Propane Partners during the 1st quarter worth approximately $114,000. Tower Research Capital LLC TRC bought a new position in Suburban Propane Partners during the 4th quarter worth approximately $139,000. Lee Financial Co lifted its holdings in Suburban Propane Partners by 98.3% during the 1st quarter. Lee Financial Co now owns 6,454 shares of the energy company’s stock worth $142,000 after buying an additional 3,200 shares during the last quarter. Finally, Probabilities Fund Management LLC bought a new position in Suburban Propane Partners during the 4th quarter worth approximately $221,000. 28.20% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded Suburban Propane Partners from a “hold” rating to a “sell” rating in a report on Friday, January 19th. TheStreet raised Suburban Propane Partners from a “c” rating to a “b-” rating in a report on Friday, February 9th. Raymond James raised Suburban Propane Partners from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a report on Friday, February 9th. UBS raised Suburban Propane Partners from a “market perform” rating to an “outperform” rating in a report on Friday, February 9th. Finally, JPMorgan Chase downgraded Suburban Propane Partners from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $28.00 to $26.00 in a report on Monday, March 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Suburban Propane Partners currently has an average rating of “Hold” and an average target price of $27.00.
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.