Suburban Propane Partners LP (SPH) is Downgraded by Citigroup to Neutral

Suburban Propane Partners LP (SPH) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on May 20, 2016.

On the company’s financial health, Suburban Propane Partners LP reported $1.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.84 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $2.35. The company had revenue of $404.10 million for the quarter, compared to analysts expectations of $499.82 million. The company’s revenue was down -32.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.26 EPS.

Suburban Propane Partners LP opened for trading at $31.16 and hit $32.8028 on the upside on Thursday, eventually ending the session at $32.76, with a gain of 4.63% or 1.45 points. The heightened volatility saw the trading volume jump to 2,37,563 shares. Company has a market cap of $1,991 M.

In a different news, on Mar 9, 2016, Harold R Jr Logan (director) sold 1,800 shares at $30.49 per share price. According to the SEC, 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.

Suburban Propane Partners LP

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