Suburban Propane Partners, L.P. Rating Increased to Outperform at Zacks (SPH)

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Suburban Propane Partners, L.P. (NYSE:SPH) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Analyst RN reports. The firm currently has a $48.00 price objective on the stock. Zacks‘s price target indicates a potential upside of 7.74% from the company’s current price.

Separately, analysts at Credit Suisse upgraded shares of Suburban Propane Partners, L.P. from an “underperform” rating to a “neutral” rating in a research note on Friday. They now have a $45.00 price target on the stock, down previously from $46.00. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Suburban Propane Partners, L.P. currently has a consensus rating of “Hold” and an average price target of $45.25.

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) traded up 1.10% on Monday, hitting $45.04. 131,229 shares of the company’s stock traded hands. Suburban Propane Partners, L.P. has a 52-week low of $39.91 and a 52-week high of $50.25. The stock has a 50-day moving average of $42.72 and a 200-day moving average of $44.55. The company has a market cap of $2.716 billion and a P/E ratio of 26.97.

Suburban Propane Partners, L.P. (NYSE:SPH) last issued its quarterly earnings data on Thursday, May 8th. The company reported $2.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.24 by $0.23. The company had revenue of $873.80 million for the quarter, compared to the consensus estimate of $798.90 million. During the same quarter in the prior year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts predict that Suburban Propane Partners, L.P. will post $1.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 7.86%. The ex-dividend date is Friday, May 2nd.

Suburban Propane Partners, L.P. (NYSE:SPH) is a nationwide marketer and distributor of a range of products meeting the energy needs of its customers.

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