Federated Hermes Inc. Decreases Stock Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Federated Hermes Inc. reduced its position in Suburban Propane Partners, L.P. (NYSE:SPH – Get Rating) by 16.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,941 shares of the energy company’s stock after selling 24,965 shares during the quarter. Federated Hermes Inc.’s holdings in Suburban Propane Partners were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Bowen Hanes & Co. Inc. grew its position in shares of Suburban Propane Partners by 20.8% in the second quarter. Bowen Hanes & Co. Inc. now owns 725,000 shares of the energy company’s stock valued at $11,063,000 after purchasing an additional 125,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Suburban Propane Partners by 70.5% during the second quarter. Goldman Sachs Group Inc. now owns 591,483 shares of the energy company’s stock worth $9,026,000 after buying an additional 244,537 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Suburban Propane Partners by 4,041.8% during the first quarter. BNP Paribas Arbitrage SA now owns 235,298 shares of the energy company’s stock worth $3,788,000 after buying an additional 229,617 shares in the last quarter. Prospera Financial Services Inc grew its position in Suburban Propane Partners by 179.5% during the third quarter. Prospera Financial Services Inc now owns 232,209 shares of the energy company’s stock worth $3,494,000 after buying an additional 149,117 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Suburban Propane Partners by 2.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 201,983 shares of the energy company’s stock worth $3,040,000 after buying an additional 4,449 shares in the last quarter. 19.42% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock opened at $15.10 on Friday. Suburban Propane Partners, L.P. has a 52 week low of $14.40 and a 52 week high of $17.75. The business has a 50-day simple moving average of $15.61 and a 200 day simple moving average of $15.93. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock has a market cap of $958.70 million, a price-to-earnings ratio of 5.92 and a beta of 0.67.

Suburban Propane Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 7th. Shareholders of record on Tuesday, January 31st were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 8.61%. The ex-dividend date of this dividend was Monday, January 30th. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 50.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their target price on Suburban Propane Partners from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, November 17th. StockNews.com cut Suburban Propane Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 19th.

About Suburban Propane Partners

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Suburban Propane Partners LP engages in the marketing and distribution of propane, renewable propane, fuel oil, and refined fuels. It operates through the following 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 to residential, commercial, industrial, agricultural, and government customers.