Raymond James & Associates raised its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH – Get Rating) by 72.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,034 shares of the energy company’s stock after buying an additional 53,973 shares during the period. Raymond James & Associates’ holdings in Suburban Propane Partners were worth $1,927,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SPH. GPS Wealth Strategies Group LLC acquired a new position in shares of Suburban Propane Partners during the 2nd quarter valued at $31,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Suburban Propane Partners by 50.0% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,000 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Venture Visionary Partners LLC acquired a new position in shares of Suburban Propane Partners during the second quarter worth about $56,000. Selective Wealth Management Inc. boosted its position in shares of Suburban Propane Partners by 22.3% in the second quarter. Selective Wealth Management Inc. now owns 3,833 shares of the energy company’s stock worth $58,000 after buying an additional 700 shares during the period. Finally, Gould Capital LLC grew its stake in shares of Suburban Propane Partners by 16.9% in the second quarter. Gould Capital LLC now owns 4,786 shares of the energy company’s stock valued at $73,000 after buying an additional 693 shares in the last quarter. 19.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Suburban Propane Partners
In other Suburban Propane Partners news, VP Michael A. Schueler sold 3,882 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $16.29, for a total transaction of $63,237.78. Following the completion of the transaction, the vice president now directly owns 47,773 shares of the company’s stock, valued at approximately $778,222.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Michael A. Schueler sold 3,882 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $16.29, for a total transaction of $63,237.78. Following the transaction, the vice president now owns 47,773 shares of the company’s stock, valued at $778,222.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Brinkworth sold 12,500 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $16.03, for a total value of $200,375.00. Following the completion of the sale, the senior vice president now directly owns 164,113 shares of the company’s stock, valued at $2,630,731.39. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Suburban Propane Partners Price Performance
Shares of NYSE SPH opened at $15.94 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.35 and a current ratio of 0.57. Suburban Propane Partners, L.P. has a 1 year low of $14.25 and a 1 year high of $17.75. The stock’s 50-day simple moving average is $15.75 and its 200-day simple moving average is $16.06. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 7.31 and a beta of 0.68.
Suburban Propane Partners (NYSE:SPH – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The energy company reported ($0.86) earnings per share for the quarter. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 26.92%. The business had revenue of $237.63 million for the quarter.
Suburban Propane Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 7th. Investors of record on Tuesday, January 31st will be paid a $0.325 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.16%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 59.63%.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane for space heating, water heating, cooking, and clothes drying in the residential and commercial markets; for use as a motor fuel in internal combustion engines to power over-the-road vehicles, forklifts, and stationary engines, as well as to fire furnaces as a cutting gas to the industrial customers; and for tobacco curing, crop drying, poultry brooding, and weed control in the agricultural markets.
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