QUOTE AND NEWS
The Straits Times  Jul 15  Comment 
July 16, 2014 1:17 AM MEDIA and property group Singapore Press Holdings posted a slide in third-quarter earnings yesterday, largely owing to the absence of one-off gains seen in the same period last year.
The Straits Times  Jul 11  Comment 
July 12, 2014 12:42 AM MAINTAINING full occupancy and lower operating expenses at its malls helped SPH Reit beat forecasts in its third quarter.
Market Intelligence Center  Jul 11  Comment 
A covered call identified by MarketIntelligececenter.com's patented algorithm on Suburban Propane Partners LP (SPH) could yield about 2.41% (3.93% annualized, for comparison purposes only) in 224 days. Pair a long position in the stock with the...
Benzinga  May 9  Comment 
In a report published Friday, Credit Suisse analyst John Edwards upgraded the rating on Suburban Propane Partners LP (NYSE: SPH) from Underperform to Neutral, but lowered the price target from $46.00 to $45.00. In the report, Credit Suisse...
SeekingAlpha  May 8  Comment 
Suburban Propane Partners, L.P. (SPH) Q2 2014 Earnings Conference Call February 08, 2014 09:00 a.m. ET Executives A. Davin D'Ambrosio – Vice President and Treasurer Michael J. Dunn, Jr. – President and Chief Executive Officer ...
The Straits Times  May 5  Comment 
May 05, 2014 12:50 AM NOMINATIONS are now open for one of Singapore's biggest advertising awards.
The Straits Times  Apr 11  Comment 
April 12, 2014 1:17 AM NET profit at media group Singapore Press Holdings (SPH) rose 7.5 per cent in the second quarter as it booked a gain from selling part of its stake in the regional online classified business.
The Straits Times  Apr 8  Comment 
April 09, 2014 1:38 AM HIGHER rentals and lower-than- expected operating costs helped SPH Reit to exceed forecasts in its second quarter.
The Straits Times  Mar 6  Comment 
March 07, 2014 1:19 AM MEDIA and property company Singapore Press Holdings (SPH) paid the highest yield among large and medium-sized stocks listed in Singapore over the past year, a new report has shown.     
The Straits Times  Mar 6  Comment 
March 06, 2014 9:43 PM THE 30 stocks making up the closely watched Straits Times Index (STI) will remain unchanged following the latest quarterly review by Singapore Press Holdings (SPH), the Singapore Exchange (SGX) and the FTSE Group.     





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Trends and Forces

Propane, a clean burning and non-toxic gas, is created as a byproduct of oil and natural gas processing and is used to heat homes, cooking and sometimes to power vehicles as Liquefied Petroleum Gas (LPG). According to the National Propane Gas Association, about 8.1 million households in the United States use propane to heat their homes as an inexpensive alternative to electricity. New Jersey based Suburban Propane services over 1 million residential and commercial customers in 30 states. Suburban Propane also provides customers the option to rent large propane tanks from them and since these tanks are often buried underground, switching to a different provider is not an easy option, giving Suburban Propane a "lock" on certain customers.

Hedging with Propane futures

The company hedges part of the propane it has in physical inventory by going short propane futures. When propane prices rose earlier this year, the company had to take a $14.5 million loss against its hedges in the fiscal third quarter ended June 28, 2008. This was right before oil hit its peak of $147 in July. If the company continued its hedging activity in its fiscal fourth quarter, which ended September 2008, the sharp decline in oil and propane prices during the quarter should prove beneficial to the company. Even if the company suspended its hedging program, the decline in propane prices should benefit the company as there should be no significant drop in retail propane prices that Suburban Propane charges its customers. This is one of the key reasons whySuburban Propane attractive ahead of its fourth quarter conference call scheduled on Friday, November 14th, 2008.

The company also has a consistent history of raising quarterly distributions and has done so 19 times since 1999. Distributions in the recent past have been financed entirely through operating income and the company has built up its cash position to $118.6 million, while holding long-term debt steady at $548 million over the last three years.



References

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