Private Advisor Group LLC lifted its holdings in shares of Suburban Propane Partners LP (NYSE:SPH) by 43.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,858 shares of the energy company’s stock after purchasing an additional 5,370 shares during the quarter. Private Advisor Group LLC’s holdings in Suburban Propane Partners were worth $420,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in SPH. Gables Capital Management Inc. bought a new position in shares of Suburban Propane Partners during the first quarter worth approximately $114,000. Bruderman Asset Management LLC bought a new position in Suburban Propane Partners in the first quarter valued at approximately $114,000. Lee Financial Co increased its stake in Suburban Propane Partners by 98.3% in the first quarter. Lee Financial Co now owns 6,454 shares of the energy company’s stock valued at $142,000 after acquiring an additional 3,200 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Suburban Propane Partners by 402.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,980 shares of the energy company’s stock valued at $154,000 after acquiring an additional 5,590 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Suburban Propane Partners in the first quarter valued at approximately $210,000. 29.38% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on SPH shares. 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 cut shares of Suburban Propane Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Suburban Propane Partners currently has a consensus rating of “Hold” and an average price target of $27.50.
In other Suburban Propane Partners news, Director Jane Swift sold 1,500 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $23.67, for a total transaction of $35,505.00. Following the sale, the director now owns 13,581 shares of the company’s stock, valued at $321,462.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Kuglin sold 7,250 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $24.10, for a total transaction of $174,725.00. Following the sale, the chief financial officer now directly owns 62,449 shares in the company, valued at approximately $1,505,020.90. The disclosure for this sale can be found here. Insiders sold 29,450 shares of company stock worth $703,199 over the last three months. 0.64% of the stock is currently owned by insiders.
Shares of NYSE:SPH opened at $22.66 on Friday. The company has a market capitalization of $1.39 billion, a P/E ratio of 32.37, a PEG ratio of 4.86 and a beta of 0.57. 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 LP has a 1 year low of $21.85 and a 1 year high of $27.05.
Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, August 9th. The energy company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.20. The business had revenue of $241.90 million for the quarter, compared to analysts’ expectations of $253.17 million. Suburban Propane Partners had a net margin of 5.69% and a return on equity of 13.26%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.48) earnings per share. equities analysts predict that Suburban Propane Partners LP will post 1.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, August 7th were paid a $0.60 dividend. The ex-dividend date was Monday, August 6th. This represents a $2.40 dividend on an annualized basis and a yield of 10.59%. Suburban Propane Partners’s dividend payout ratio (DPR) is 342.86%.
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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