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Suburban Propane Partners LP SPH

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Unfavorable Weather Impacts Suburban's First-Quarter Results

Andrew Bischof, CFA, CPA Senior Equity Analyst

Analyst Note

| Andrew Bischof, CFA, CPA |

We are maintaining our $14.50 per unit fair value estimate for Suburban Propane Partners after the partnership reported its propane, refined fuels, and energy marketing businesses generated $80.0 million in adjusted EBITDA for the first quarter of fiscal-year 2021, down from $85.4 million in the same the year-ago period. Net income was $38 million, compared with $40.2 million in the prior-year first quarter. We are reaffirming our no-moat, negative moat trend ratings.

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Company Profile

Business Description

Suburban Propane Partners distributes propane, fuel oil, and other refined fuels to customers primarily in the East Coast and West Coast regions of the United States. Other operations include natural gas and electricity marketing in the deregulated New York and Pennsylvania markets.

Contact
240 Route 10 West, P.O. Box 206
Whippany, NJ, 07981
T +1 973 887-5300
Sector Utilities
Industry Utilities - Regulated Gas
Most Recent Earnings Dec 31, 2020
Fiscal Year End Sep 26, 2021
Stock Type Slow Growth
Employees 3,274

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