Wall Street analysts expect that Suburban Propane Partners LP (NYSE:SPH) will announce ($0.84) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Suburban Propane Partners’ earnings, with the highest EPS estimate coming in at ($0.80) and the lowest estimate coming in at ($0.86). Suburban Propane Partners reported earnings per share of ($0.83) in the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The company is expected to announce its next quarterly earnings results on Thursday, November 15th.
According to Zacks, analysts expect that Suburban Propane Partners will report full-year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.01 to $1.21. For the next fiscal year, analysts forecast that the firm will post earnings of $1.57 per share, with EPS estimates ranging from $1.48 to $1.70. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Suburban Propane Partners.
Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, August 9th. The energy company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.20. Suburban Propane Partners had a net margin of 5.69% and a return on equity of 13.26%. The company had revenue of $241.90 million during the quarter, compared to analysts’ expectations of $253.17 million. During the same quarter last year, the company posted ($0.48) EPS. The firm’s revenue was up 8.5% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. ValuEngine lowered shares of Suburban Propane Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Suburban Propane Partners has an average rating of “Hold” and a consensus price target of $27.50.
In other news, COO Steven C. Boyd sold 8,500 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $23.51, for a total value of $199,835.00. Following the sale, the chief operating officer now directly owns 94,441 shares in the company, valued at approximately $2,220,307.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harold R. Logan, Jr. sold 4,200 shares of Suburban Propane Partners stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $23.47, for a total transaction of $98,574.00. Following the sale, the director now owns 17,876 shares in the company, valued at $419,549.72. The disclosure for this sale can be found here. Insiders sold a total of 27,950 shares of company stock worth $667,694 over the last 90 days. Company insiders own 0.75% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. raised its stake in Suburban Propane Partners by 8.5% during the 1st quarter. OppenheimerFunds Inc. now owns 4,680,417 shares of the energy company’s stock worth $103,016,000 after acquiring an additional 365,519 shares in the last quarter. Abrams Capital Management L.P. raised its stake in Suburban Propane Partners by 42.4% during the 2nd quarter. Abrams Capital Management L.P. now owns 2,832,109 shares of the energy company’s stock worth $66,526,000 after acquiring an additional 843,763 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Suburban Propane Partners by 10.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,066,387 shares of the energy company’s stock worth $25,049,000 after acquiring an additional 100,969 shares in the last quarter. Atlantic Trust Group LLC raised its stake in Suburban Propane Partners by 49.2% during the 1st quarter. Atlantic Trust Group LLC now owns 965,418 shares of the energy company’s stock worth $21,248,000 after acquiring an additional 318,392 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its stake in Suburban Propane Partners by 5.8% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 654,958 shares of the energy company’s stock worth $15,385,000 after acquiring an additional 35,991 shares in the last quarter. Hedge funds and other institutional investors own 29.10% of the company’s stock.
Shares of SPH stock opened at $24.05 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.07 and a quick ratio of 0.74. Suburban Propane Partners has a 52 week low of $21.85 and a 52 week high of $27.05. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 5.80 and a beta of 0.60.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, August 7th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.98%. Suburban Propane Partners’s payout ratio is 342.86%.
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. Its 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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