Raymond James Financial Services Advisors Inc. Cuts Stake in Suburban Propane Partners, L.P. (NYSE:SPH)

Raymond James Financial Services Advisors Inc. lessened its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH – Get Rating) by 2.4% in the 4th quarter, HoldingsChannel reports. The fund owned 197,043 shares of the energy company’s stock after selling 4,940 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Suburban Propane Partners were worth $2,991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPH. Cambridge Investment Research Advisors Inc. boosted its stake in Suburban Propane Partners by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,695 shares of the energy company’s stock worth $655,000 after purchasing an additional 676 shares during the period. PNC Financial Services Group Inc. raised its position in Suburban Propane Partners by 7.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 35,208 shares of the energy company’s stock worth $567,000 after buying an additional 2,400 shares during the last quarter. Virtu Financial LLC raised its position in Suburban Propane Partners by 41.9% during the 1st quarter. Virtu Financial LLC now owns 17,833 shares of the energy company’s stock worth $287,000 after buying an additional 5,267 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Suburban Propane Partners by 4,041.8% during the 1st 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Suburban Propane Partners by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,231 shares of the energy company’s stock worth $503,000 after buying an additional 1,728 shares during the last quarter. Institutional investors and hedge funds own 19.42% of the company’s stock.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock opened at $14.94 on Monday. Suburban Propane Partners, L.P. has a 12-month low of $14.40 and a 12-month high of $17.62. The stock has a market capitalization of $948.69 million, a P/E ratio of 10.45 and a beta of 0.66. The firm’s 50-day moving average is $15.20 and its two-hundred day moving average is $15.54. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.90 and a quick ratio of 0.66.

Suburban Propane Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 9th. Investors of record on Tuesday, May 2nd were given a $0.325 dividend. The ex-dividend date was Monday, May 1st. This represents a $1.30 annualized dividend and a dividend yield of 8.70%. Suburban Propane Partners’s dividend payout ratio is presently 90.91%.

Analyst Ratings Changes

SPH has been the topic of a number of research reports. Mizuho initiated coverage on shares of Suburban Propane Partners in a research note on Wednesday, April 26th. They issued a “neutral” rating and a $17.00 price objective on the stock. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Friday, May 12th.

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.