SPH - Is Suburban Propane Partners A Bargain Around Its 10-Year Lows?
Suburban Propane Partners (SPH) has dramatically underperformed the market in the last five years. During this period, the stock has plunged 52% whereas the S&P has rallied 41%. Consequently, the stock is now trading around its 10-year lows. As it is also offering an 11.2% distribution yield, the big question is whether the MLP has eventually become a bargain.
Business overview
Suburban Propane Partners is a master limited partnership (MLP) that serves the energy needs of approximately one million residential, commercial, industrial and agricultural customers. It has about 700 locations