UGI - Suburban Propane's 40% Gain In 6 Months Needs Cautious Watching
2024-02-14 07:01:34 ET
Summary
- Suburban Propane has outperformed the S&P 500 in the past six months, gaining close to 40%.
- Institutional buying and a major ETF's purchase have contributed to the stock's appreciation.
- The company's pattern of performing well in January and selling off in February and March suggests waiting to see if the increase is sustained.
- Propane's cleaner energy footprint, as well as the company's investment in renewable natural gas, renewable propane, and other green energy companies, has attracted interest and contributed to the price increase.
- The MLP's distribution has been paid for 27 years, but not without cuts along the way that have made it more secure going forward.
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Suburban Propane's 40% Gain In 6 Months Needs Cautious Watching