-$0.84 EPS Expected for Suburban Propane Partners LP (SPH) This Quarter

Equities analysts predict that Suburban Propane Partners LP (NYSE:SPH) will report earnings per share of ($0.84) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued 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 of ($0.83) per share during the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, November 15th.

On average, analysts expect that Suburban Propane Partners will report full-year earnings of $1.17 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.22. For the next fiscal year, analysts anticipate that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.43 to $1.70. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Suburban Propane Partners.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, August 9th. The energy company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.20. Suburban Propane Partners had a return on equity of 13.26% and a net margin of 5.69%. The company had revenue of $241.90 million during the quarter, compared to analysts’ expectations of $253.17 million. During the same period last year, the business posted ($0.48) earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year.

SPH has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine cut Suburban Propane Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.75.

Suburban Propane Partners stock remained flat at $$22.83 during midday trading on Friday. The company’s stock had a trading volume of 267,336 shares, compared to its average volume of 209,169. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 1.07. Suburban Propane Partners has a 52 week low of $21.85 and a 52 week high of $26.82. The stock has a market capitalization of $1.40 billion, a PE ratio of 32.61, a PEG ratio of 3.71 and a beta of 0.53.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 10.51%. The ex-dividend date is Monday, November 5th. Suburban Propane Partners’s dividend payout ratio is presently 342.86%.

In other news, CFO Michael Kuglin sold 7,250 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $24.10, for a total value of $174,725.00. Following the transaction, the chief financial officer now directly owns 62,449 shares of the company’s stock, valued at $1,505,020.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Brinkworth sold 8,000 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $24.32, for a total value of $194,560.00. Following the completion of the transaction, the insider now directly owns 72,437 shares in the company, valued at $1,761,667.84. The disclosure for this sale can be found here. Insiders sold 16,750 shares of company stock worth $404,790 over the last three months. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently made changes to their positions in SPH. Abrams Capital Management L.P. increased its holdings in shares of Suburban Propane Partners by 42.4% in the second quarter. Abrams Capital Management L.P. now owns 2,832,109 shares of the energy company’s stock valued at $66,526,000 after purchasing an additional 843,763 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Suburban Propane Partners by 468.4% in the second quarter. Renaissance Technologies LLC now owns 216,067 shares of the energy company’s stock valued at $5,075,000 after purchasing an additional 178,057 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Suburban Propane Partners by 10.5% in the second quarter. CIBC Private Wealth Group LLC now owns 1,066,387 shares of the energy company’s stock valued at $25,049,000 after purchasing an additional 100,969 shares during the period. HITE Hedge Asset Management LLC increased its holdings in shares of Suburban Propane Partners by 5.8% in the second quarter. HITE Hedge Asset Management LLC now owns 654,958 shares of the energy company’s stock valued at $15,385,000 after purchasing an additional 35,991 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Suburban Propane Partners by 19.4% in the third quarter. Wells Fargo & Company MN now owns 138,315 shares of the energy company’s stock valued at $3,255,000 after purchasing an additional 22,432 shares during the period. 29.45% of the stock is currently owned by institutional investors and hedge funds.

About Suburban Propane Partners

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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