UBS Downgrades Suburban Propane Partners LP to Neutral

Brokerage firm UBS Downgrades its rating on Suburban Propane Partners LP(NYSE:SPH). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by UBS was issued on Jun 10, 2016.

In a different note, On May 20, 2016, Citigroup said it Downgrades its rating on Suburban Propane Partners LP. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 18, 2016, Stifel Nicolaus said it Downgrades its rating on Suburban Propane Partners LP. The shares have been rated ‘Hold’ by the firm.

Suburban Propane Partners LP (SPH) made into the market gainers list on Wednesdays trading session with the shares advancing 1.08% or 0.34 points. Due to strong positive momentum, the stock ended at $31.96, which is also near the day’s high of $32.15. The stock began the session at $31.47 and the volume stood at 1,96,164 shares. The 52-week high of the shares is $41.16 and the 52 week low is $20.93. The company has a current market capitalization of $1,942 M and it has 6,07,76,271 shares in outstanding.

Suburban Propane Partners LP(SPH) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $404.14M. Analysts had an estimated revenue of $529.47M. Earnings per share were $1.51. Analysts had estimated an EPS of $2.33.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Harold R Jr Logan (director) sold 1,800 shares at $30.49 per share price.Also, On Dec 14, 2015, Matthew J Chanin (director) purchased 2,000 shares at $25.37 per share price.On Dec 4, 2015, Sandra N Zwickel (Vice President,Human Resources) sold 2,700 shares at $28.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Suburban Propane Partners L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized 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 conducts its business through Suburban Propane L.P. which operates its propane business and assets (the Operating Partnership) and its direct and indirect subsidiaries. Its general partner and the general partner of its Operating Partnership is Suburban Energy Services Group LLC (the General Partner). Subsidiaries of the Operating Partnership include Suburban Sales and Service Inc. (the Service Company) which conducts a portion of the Partnership’s service work and appliance and parts businesses. It operates in three segments: Propane Fuel Oil and Refined Fuels and Natural Gas and Electricity.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *