Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Suburban Propane Partners LP (NYSE:SPH) by 32.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,000 shares of the energy company’s stock after buying an additional 9,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Suburban Propane Partners were worth $869,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. purchased a new stake in Suburban Propane Partners during the 4th quarter worth approximately $106,000. Gables Capital Management Inc. purchased a new stake in Suburban Propane Partners during the 1st quarter worth approximately $114,000. Bruderman Asset Management LLC purchased a new stake in Suburban Propane Partners during the 1st quarter worth approximately $114,000. Lee Financial Co increased its stake in Suburban Propane Partners by 98.3% during the 1st quarter. Lee Financial Co now owns 6,454 shares of the energy company’s stock worth $142,000 after buying an additional 3,200 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Suburban Propane Partners by 402.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,980 shares of the energy company’s stock worth $154,000 after buying an additional 5,590 shares during the period. 29.10% of the stock is currently owned by hedge funds and other institutional investors.
In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 4,200 shares of the stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $23.47, for a total value of $98,574.00. Following the sale, the director now directly owns 17,876 shares of the company’s stock, valued at approximately $419,549.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Douglas Brinkworth sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $24.32, for a total transaction of $194,560.00. Following the completion of the sale, the insider now directly owns 72,437 shares in the company, valued at $1,761,667.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,950 shares of company stock worth $667,694. Insiders own 0.75% of the company’s stock.
Shares of SPH opened at $24.33 on Friday. Suburban Propane Partners LP has a fifty-two week low of $21.85 and a fifty-two week high of $27.05. The company has a market cap of $1.47 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 5.80 and a beta of 0.60. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18.
Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, August 9th. The energy company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.20. Suburban Propane Partners had a net margin of 5.69% and a return on equity of 13.26%. The firm had revenue of $241.90 million for the quarter, compared to the consensus estimate of $253.17 million. During the same period in the prior year, the firm earned ($0.48) EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. research analysts forecast that Suburban Propane Partners LP will post 1.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, August 7th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date was Monday, August 6th. Suburban Propane Partners’s dividend payout ratio is presently 342.86%.
SPH has been the topic of several recent research reports. Zacks Investment Research raised shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine downgraded shares of Suburban Propane Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Suburban Propane Partners currently has a consensus rating of “Hold” and an average target price of $27.50.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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