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SPH 
Suburban Propane Partners LP (SPH)
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Upturn Advisory Summary
02/20/2026: SPH (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
2 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $17
1 Year Target Price $17
| 1 | Strong Buy |
| 0 | Buy |
| 0 | Hold |
| 0 | Sell |
| 1 | Strong Sell |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.34B USD | Price to earnings Ratio 10.08 | 1Y Target Price 17 |
Price to earnings Ratio 10.08 | 1Y Target Price 17 | ||
Volume (30-day avg) 2 | Beta 0.39 | 52 Weeks Range 16.67 - 20.55 | Updated Date 02/22/2026 |
52 Weeks Range 16.67 - 20.55 | Updated Date 02/22/2026 | ||
Dividends yield (FY) 6.36% | Basic EPS (TTM) 2.01 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2026-02-05 | When - | Estimate 0.73 | Actual 0.7003 |
Profitability
Profit Margin 9.3% | Operating Margin (TTM) 18.22% |
Management Effectiveness
Return on Assets (TTM) 5.6% | Return on Equity (TTM) 22.7% |
Valuation
Trailing PE 10.08 | Forward PE 16.61 | Enterprise Value 2564474789 | Price to Sales(TTM) 0.94 |
Enterprise Value 2564474789 | Price to Sales(TTM) 0.94 | ||
Enterprise Value to Revenue 1.79 | Enterprise Value to EBITDA 10.42 | Shares Outstanding 66331481 | Shares Floating 64237396 |
Shares Outstanding 66331481 | Shares Floating 64237396 | ||
Percent Insiders 2.04 | Percent Institutions 43.08 |
Upturn AI SWOT
Suburban Propane Partners LP
Company Overview
History and Background
Suburban Propane Partners, L.P. was founded in 1928 and has grown to become one of the nation's largest propane distributors. It went public in 1995. The company has experienced organic growth and strategic acquisitions over the decades to expand its geographic reach and service offerings within the energy distribution sector.
Core Business Areas
- Propane and Related Services: Distribution and sale of propane to residential, commercial, industrial, and agricultural customers. This includes delivery, tank leasing, appliance sales, and installation services.
- Fuel Oil and Other Services: Distribution of heating oil and other refined fuels. May also include services like HVAC system maintenance and installation.
- Other Energy Products and Services: Potentially includes the sale of other energy-related products or services, though propane remains the primary focus.
Leadership and Structure
Suburban Propane Partners, L.P. operates as a master limited partnership. Leadership typically includes a CEO, CFO, and other senior executives responsible for overseeing operations, strategy, and financial performance. The partnership structure means it is managed by a general partner, which is usually an affiliate entity.
Top Products and Market Share
Key Offerings
- Propane Distribution: [object Object]
- Propane Tank Leasing and Sales: [object Object]
- Heating Oil Distribution: [object Object]
Market Dynamics
Industry Overview
The energy distribution industry, particularly for propane, is characterized by its essential nature for residential heating, cooking, and various industrial applications. The market is influenced by weather patterns, energy prices (natural gas, crude oil), regulatory environments, and the increasing adoption of alternative energy sources. The sector is generally mature with steady demand, but growth often comes from market consolidation and expanding service offerings.
Positioning
Suburban Propane is a well-established national player in the propane distribution market. Its competitive advantages include a broad geographic footprint, a large existing customer base, a strong brand reputation, and expertise in managing logistics and safety for hazardous materials. Its partnership structure also allows for tax efficiencies.
Total Addressable Market (TAM)
The TAM for propane and refined fuels distribution in the US is substantial, estimated in the tens of billions of dollars annually. This includes residential, commercial, industrial, and automotive propane demand. Suburban Propane is positioned as a significant player within this TAM, but faces competition from numerous other distributors, both large and small, across its operating territories. Its market share is likely in the single digits nationally but could be higher in specific regional markets.
Upturn SWOT Analysis
Strengths
- Extensive distribution network and established infrastructure.
- Strong brand recognition and customer loyalty in its service areas.
- Diversified customer base across residential, commercial, and industrial sectors.
- Expertise in handling and distributing a hazardous material (propane).
- Master Limited Partnership structure provides certain tax advantages.
Weaknesses
- Dependence on weather conditions for demand, particularly for heating.
- Sensitivity to volatile energy prices.
- Capital-intensive business requiring ongoing investment in infrastructure and equipment.
- Competition from larger and smaller regional distributors.
- Potential for regulatory changes impacting operations and pricing.
Opportunities
- Expansion into new geographic markets through acquisitions.
- Growth in the industrial and commercial sectors for propane use.
- Increased adoption of propane as a cleaner-burning alternative fuel.
- Leveraging technology for improved logistics, customer service, and operational efficiency.
- Cross-selling additional energy services to existing customer base.
Threats
- Increasing competition from natural gas pipelines and alternative energy sources (e.g., electric, solar).
- Economic downturns impacting customer demand and ability to pay.
- Fluctuations in propane supply and pricing.
- Stringent environmental and safety regulations.
- Rising interest rates increasing the cost of capital for expansion and operations.
Competitors and Market Share
Key Competitors
- AmeriGas Partners, L.P. (APU)
- Ferrellgas Partners, L.P. (FGAS)
- DCC plc (DCC - primarily European, but has US presence)
- Regional and Independent Propane Distributors
Competitive Landscape
Suburban Propane faces intense competition from larger, national players like AmeriGas and Ferrellgas, who have significant scale advantages. However, Suburban Propane's established network, customer relationships, and regional strengths provide a solid competitive position. The market is fragmented, allowing for strong regional players to thrive. Disadvantages may include smaller scale compared to top competitors, limiting purchasing power.
Growth Trajectory and Initiatives
Historical Growth: Historically, Suburban Propane has grown through a combination of organic expansion and strategic acquisitions of smaller distributors. Its growth has been tied to the demand for propane and its ability to efficiently serve its markets.
Future Projections: Future growth is likely to be driven by continued consolidation in the propane industry, expansion into adjacent services, and capitalizing on demand for propane as an alternative fuel. Analyst projections would consider industry trends, company strategy, and economic conditions.
Recent Initiatives: Recent initiatives likely focus on operational efficiencies, technology integration, safety enhancements, and potentially exploring opportunities in renewable propane or other energy solutions.
Summary
Suburban Propane Partners LP is a strong, established player in the US propane distribution market with a wide geographic reach and diversified customer base. Its operational expertise and partnership structure are key strengths. However, it faces significant competition, volatility in energy prices, and the ongoing challenge of transitioning to cleaner energy sources. Continued focus on efficiency, strategic acquisitions, and adapting to market shifts will be crucial for its future success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company SEC Filings (10-K, 10-Q)
- Financial news and data providers (e.g., Bloomberg, Refinitiv)
- Industry analysis reports
Disclaimers:
This analysis is based on publicly available information and general industry knowledge. It is not intended as investment advice. Actual financial performance and market share may vary. Data accuracy and completeness are subject to the availability and reliability of the sources.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Suburban Propane Partners LP
Exchange NYSE | Headquaters Whippany, NJ, United States | ||
IPO Launch date 1996-02-29 | President, CEO & Supervisor Mr. Michael A. Stivala | ||
Sector Utilities | Industry Utilities - Regulated Gas | Full time employees 3190 | Website https://www.suburbanpropane.com |
Full time employees 3190 | Website https://www.suburbanpropane.com | ||
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, renewable natural gas, fuel oil, and refined fuels in the United States. It operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane for space heating, water heating, cooking, and clothes drying for use as a motor fuel in internal combustion engines to power over-the-road vehicles, forklifts, and stationary engines, as well as to fire furnaces as a cutting gas to the industrial customers; and for tobacco curing, crop drying, poultry brooding, and weed control in the agricultural markets. It also engages in the wholesale distribution of propane to industrial end users. Its Fuel Oil and Refined Fuels segment engages in the retail distribution of fuel oil, diesel, kerosene, and gasoline to residential and commercial customers for use in primarily as a source of heat in homes and buildings. The Natural Gas and Electricity segment markets natural gas and electricity to residential and commercial customers in the deregulated energy markets. Its All Other segment sells, installs, and services a range of home comfort equipment, including whole-house heating products, air cleaners, humidifiers, and space heaters. The company serves residential, commercial, industrial, and agricultural customers. Suburban Propane Partners, L.P. was founded in 1945 and is based in Whippany, New Jersey.
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