Suburban Propane Partners LP (NYSE:SPH) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 750,500 shares, a growth of 12.4% from the June 15th total of 667,500 shares. Based on an average trading volume of 352,900 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.2% of the shares of the stock are sold short.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Raymond James decreased their target price on shares of Suburban Propane Partners from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Suburban Propane Partners presently has an average rating of “Hold” and a consensus price target of $20.50.

Several institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in Suburban Propane Partners by 40.8% in the 1st quarter. Federated Hermes Inc. now owns 179,168 shares of the energy company’s stock valued at $2,534,000 after buying an additional 51,945 shares during the period. UBS Group AG raised its stake in shares of Suburban Propane Partners by 92.3% in the 4th quarter. UBS Group AG now owns 184,494 shares of the energy company’s stock valued at $4,031,000 after acquiring an additional 88,546 shares during the period. Citigroup Inc. lifted its holdings in shares of Suburban Propane Partners by 112.4% in the 1st quarter. Citigroup Inc. now owns 14,336 shares of the energy company’s stock worth $202,000 after acquiring an additional 7,585 shares during the last quarter. Ameritas Investment Company LLC purchased a new position in shares of Suburban Propane Partners during the 1st quarter worth approximately $31,000. Finally, Archer Investment Corp acquired a new stake in Suburban Propane Partners in the 4th quarter valued at approximately $234,000. 28.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SPH traded down $0.24 during trading on Tuesday, hitting $14.07. 127,484 shares of the company were exchanged, compared to its average volume of 328,836. The company has a fifty day moving average price of $14.71 and a 200-day moving average price of $17.29. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.65 and a current ratio of 0.85. The firm has a market capitalization of $887.24 million, a PE ratio of 24.55 and a beta of 1.07. Suburban Propane Partners has a 12-month low of $8.64 and a 12-month high of $24.89.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings data on Thursday, May 7th. The energy company reported $1.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.33). The firm had revenue of $401.06 million for the quarter, compared to analyst estimates of $432.97 million. Suburban Propane Partners had a return on equity of 8.15% and a net margin of 3.34%. Research analysts anticipate that Suburban Propane Partners will post 0.48 earnings per share for the current fiscal year.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., 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 Oil 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 in the wholesale distribution to industrial end users.

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