Rafferty Asset Management LLC Boosts Holdings in Suburban Propane Partners, L.P. (SPH)

Rafferty Asset Management LLC raised its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 124,620 shares of the energy company’s stock after acquiring an additional 15,609 shares during the period. Rafferty Asset Management LLC owned approximately 0.20% of Suburban Propane Partners, L.P. worth $2,965,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bruderman Asset Management LLC bought a new stake in shares of Suburban Propane Partners, L.P. during the 2nd quarter valued at $121,000. Camarda Financial Advisors LLC raised its position in shares of Suburban Propane Partners, L.P. by 33.1% during the 2nd quarter. Camarda Financial Advisors LLC now owns 5,282 shares of the energy company’s stock valued at $126,000 after acquiring an additional 1,314 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Suburban Propane Partners, L.P. during the 1st quarter valued at $189,000. PNC Financial Services Group Inc. raised its position in shares of Suburban Propane Partners, L.P. by 56.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock valued at $207,000 after acquiring an additional 2,777 shares during the last quarter. Finally, Snow Capital Management LP bought a new stake in shares of Suburban Propane Partners, L.P. during the 1st quarter valued at $250,000. Institutional investors own 25.57% of the company’s stock.

Several analysts have commented on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 target price on shares of Suburban Propane Partners, L.P. in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Citigroup Inc. upgraded shares of Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and dropped their target price for the company from $32.00 to $27.00 in a research report on Thursday, July 27th. BidaskClub upgraded shares of Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, ValuEngine cut shares of Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $30.80.

Suburban Propane Partners, L.P. (NYSE:SPH) traded up 0.62% during mid-day trading on Wednesday, hitting $24.35. 37,671 shares of the company were exchanged. Suburban Propane Partners, L.P. has a 12-month low of $22.71 and a 12-month high of $34.45. The company’s 50-day moving average is $24.20 and its 200 day moving average is $24.70. The company has a market capitalization of $1.49 billion, a P/E ratio of 52.59 and a beta of 0.65.

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

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In related news, Director Harold R. Logan, Jr. sold 2,127 shares of Suburban Propane Partners, L.P. stock in a transaction on Monday, September 18th. The shares were 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 owns 24,074 shares of the company’s stock, valued at $582,590.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is owned by company insiders.

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.

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

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