Insider Selling: Suburban Propane Partners, L.P. (SPH) Director Sells 2,127 Shares of Stock

Suburban Propane Partners, L.P. (NYSE:SPH) Director Harold R. Logan, Jr. sold 2,127 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $24.20, for a total transaction of $51,473.40. Following the completion of the transaction, the director now directly owns 24,074 shares in the company, valued at approximately $582,590.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Suburban Propane Partners, L.P. (NYSE SPH) traded down 0.04% during midday trading on Tuesday, reaching $24.14. 17,008 shares of the company were exchanged. The firm’s 50 day moving average price is $24.21 and its 200-day moving average price is $24.71. Suburban Propane Partners, L.P. has a 52 week low of $22.71 and a 52 week high of $34.45. The stock has a market capitalization of $1.48 billion, a P/E ratio of 52.14 and a beta of 0.65.

Suburban Propane Partners, L.P. (NYSE:SPH) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.11. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. The business had revenue of $222.90 million for the quarter, compared to analyst estimates of $221.93 million. During the same quarter in the previous year, the firm earned ($0.49) EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Suburban Propane Partners, L.P. will post $0.58 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Insider Selling: Suburban Propane Partners, L.P. (SPH) Director Sells 2,127 Shares of Stock” was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.chaffeybreeze.com/2017/09/19/insider-selling-suburban-propane-partners-l-p-sph-director-sells-2127-shares-of-stock.html.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bruderman Asset Management LLC acquired a new position in Suburban Propane Partners, L.P. in the 2nd quarter valued at about $121,000. Camarda Financial Advisors LLC grew its position in shares of Suburban Propane Partners, L.P. by 33.1% during the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock worth $126,000 after buying an additional 1,314 shares in the last quarter. Corbenic Partners LLC grew its position in shares of Suburban Propane Partners, L.P. by 0.3% during the second quarter. Corbenic Partners LLC now owns 7,527 shares of the energy company’s stock worth $179,000 after buying an additional 21 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Suburban Propane Partners, L.P. during the first quarter worth about $189,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Suburban Propane Partners, L.P. by 56.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock worth $207,000 after buying an additional 2,777 shares in the last quarter. Hedge funds and other institutional investors own 25.57% of the company’s stock.

Several equities analysts have recently commented on SPH shares. ValuEngine downgraded shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price on shares of Suburban Propane Partners, L.P. in a report on Friday, July 14th. Zacks Investment Research raised shares of Suburban Propane Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub downgraded shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Citigroup Inc. raised shares of Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $32.00 to $27.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $30.80.

Suburban Propane Partners, L.P. Company Profile

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.

Insider Buying and Selling by Quarter for Suburban Propane Partners, L.P. (NYSE:SPH)

Receive News & Ratings for Suburban Propane Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suburban Propane Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply