Suburban Propane Partners, L.P. (SPH) Shares Sold by Arrow Investment Advisors LLC

Arrow Investment Advisors LLC cut its stake in Suburban Propane Partners, L.P. (NYSE:SPH) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,466 shares of the energy company’s stock after selling 5,359 shares during the period. Arrow Investment Advisors LLC’s holdings in Suburban Propane Partners, L.P. were worth $606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bruderman Asset Management LLC bought a new position in shares of Suburban Propane Partners, L.P. in the second quarter worth about $121,000. Camarda Financial Advisors LLC lifted its stake in Suburban Propane Partners, L.P. by 33.1% in the second quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock worth $126,000 after acquiring an additional 1,314 shares during the period. PNC Financial Services Group Inc. lifted its stake in Suburban Propane Partners, L.P. by 56.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock worth $207,000 after acquiring an additional 2,777 shares during the period. Proficio Capital Partners LLC purchased a new stake in Suburban Propane Partners, L.P. in the first quarter worth about $189,000. Finally, Snow Capital Management LP purchased a new stake in Suburban Propane Partners, L.P. in the first quarter worth about $250,000. Hedge funds and other institutional investors own 25.57% of the company’s stock.

Suburban Propane Partners, L.P. (SPH) traded up 0.41% during mid-day trading on Tuesday, hitting $24.25. 44,910 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $24.21 and its 200-day moving average price is $24.71. The stock has a market cap of $1.48 billion, a PE ratio of 52.38 and a beta of 0.65. Suburban Propane Partners, L.P. has a one year low of $22.71 and a one year high of $34.45.

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

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A number of analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Suburban Propane Partners, L.P. in a research note on Friday, August 18th. Zacks Investment Research raised shares of Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Citigroup Inc. raised shares of Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $32.00 to $27.00 in a research note on Thursday, July 27th. BidaskClub raised shares of Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, ValuEngine lowered shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.80.

In other news, Director Harold R. Logan, Jr. sold 2,127 shares of Suburban Propane Partners, L.P. stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $24.20, for a total value of $51,473.40. Following the completion of the transaction, the director now owns 24,074 shares in the company, valued at approximately $582,590.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Suburban Propane Partners, L.P. 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.

Institutional Ownership by Quarter for Suburban Propane Partners, L.P. (NYSE:SPH)

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