Suburban Propane Offers Margin Of Safety Even If Distribution Is Cut [Seeking Alpha]
Suburban Propane Partners, L.P. (SPH)
Last suburban propane partners, l.p. earnings: 2/6 07:30 am
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US:NYSE Investor Relations:
investor.suburbanpropane.com/investor-overview
Company Research
Source: Seeking Alpha
Summary Suburban Propane, an MLP, supplies propane to customers typically by truck. As a de facto utility, demand is unlikely to be impacted by the coronavirus. The business has the network effects, creating pricing power due to barriers to entry. Current yield exceeds 22%, even assuming a distribution cut, which is not certain. The yields exceed 15% with 1.5x coverage on my estimate. There are many opportunities in this market, but SPH apparently offers the prospect of return with relatively low risk and limited cyclical exposure. Suburban Propane Partners (NYSE: Business Overview SPH supplies propane by truck to residential and commercial customers in broad sections of the U.S. The company is based in New Jersey and has a 90-year operating history. It frequently does bolt-on acquisitions to expand its footprint and has about 5% share of the U.S. propane market and ancillary services. The company is structured as a Master Limited Partnership (MLP). Source: SPH Investor Presentation O
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News
- Suburban Propane Partners, L.P. Declares Quarterly Distribution of $0.325 per Common UnitPR Newswire
- Suburban Propane Partners, L.P. to Hold Fiscal 2024 Second Quarter Results Conference CallPR Newswire
- Oberon Fuels and Sunvapor Commission Solar Steam Project with First Purchase Agreement in the US [Yahoo! Finance]Yahoo! Finance
- Suburban Propane Supports Anaheim Ducks' Green Night on April 9th with Donation to Anaheim Ducks Foundation [Yahoo! Finance]Yahoo! Finance
- Suburban Propane Supports Anaheim Ducks' Green Night on April 9th with Donation to Anaheim Ducks FoundationPR Newswire
SPH
Sec Filings
- 4/25/24 - Form 8-K
- 4/24/24 - Form 8-K
- 3/25/24 - Form ARS
- SPH's page on the SEC website