Suburban Propane Partners (NYSE:SPH – Get Rating) Its target price was downgraded from $18.00 to $17.00 by Wells Fargo & Co in a report published Thursday morning, reports MarketBeat. He currently has an Equal Weight rating on the energy company’s stock.
Separately, StockNews.com raised Suburban Propane Partners from a buy rating to a strong-buy rating in a research note on Friday, November 11.
Suburban Propane Partners Stock Performance
Shares of SPH opened Thursday at $15.89. Suburban Propane Partners had a one year low of $13.83 and a one year high of $17.75. The company has a market cap of $1.00 billion, PE ratio of 7.29 and beta of 0.66. The stock has a 50-day moving average of $16.19 and a 200-day moving average of $16.25. The company has a debt-to-equity ratio of 1.91, current ratio of 0.89 and quick ratio of 0.61.
Suburban Propane Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. A $0.325 dividend was paid to shareholders of record on Tuesday, November 1st. This represents a $1.30 dividend and a dividend yield of 8.18% on an annualized basis. The ex-dividend date was Monday, October 31. Suburban Propane Partners’s Dividend Payout Ratio (DPR) is 59.63%.
Hedge funds weigh in on Suburban Propane Partners
Several large investors have increased or decreased their stake in the business recently. Antoinette Capital Management LLC purchased a new position in shares of Suburban Propane Partners during the first quarter worth approximately $29,000. GPS Wealth Strategies Group LLC purchased a new position in Suburban Propane Partners in the second quarter valued at approximately $31,000. Sargent Bickham Lagudis LLC purchased a new position in Suburban Propane Partners during the second quarter worth $31,000. Rockefeller Capital Management LP increased its position in Suburban Propane Partners by 260.8% in the third quarter. Rockefeller Capital Management LP now owns 2,500 shares of the energy company worth $37,000 after buying an additional 1,807 shares during the last quarter. Finally, Farmers & Merchants Trust Co. of Chambersburg PA raised its stake in shares of Suburban Propane Partners to 50.0% in the third quarter. The Farmers & Merchant Trust Company of Chambersburg PA now owns 3,000 shares of the energy company’s stock, valued at $45,000, after purchasing an additional 1,000 shares during the period. Institutional investors hold 20.06% of the company’s stock.
About Suburban Propane Partners
Suburban Propane Partners, LP, through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil and refined fuels. The company operates in four segments: propane, fuel oils and refined fuels, natural gas and electricity, and all other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial and agricultural customers, as well as wholesale distribution to industrial end users.
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