Suburban Propane Partners, L.P. (NYSE:SPH) Sees Large Decrease in Short Interest

Suburban Propane Partners, L.P. (NYSE:SPH) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,660,000 shares, a decline of 14.4% from the March 31st total of 1,940,000 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily volume of 328,500 shares, the days-to-cover ratio is presently 5.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPH shares. Mizuho cut Suburban Propane Partners from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Monday, January 29th. StockNews.com cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 18th.

Insider Activity

In related news, SVP Neil Scanlon sold 26,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.33, for a total transaction of $502,580.00. Following the completion of the transaction, the senior vice president now owns 162,129 shares in the company, valued at approximately $3,133,953.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its position in shares of Suburban Propane Partners by 16.5% in the 4th quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock worth $74,000 after acquiring an additional 591 shares in the last quarter. Spirit of America Management Corp NY acquired a new position in Suburban Propane Partners during the 4th quarter valued at about $178,000. Archer Investment Corp increased its position in Suburban Propane Partners by 57.2% during the 3rd quarter. Archer Investment Corp now owns 11,000 shares of the energy company’s stock valued at $177,000 after buying an additional 4,003 shares in the last quarter. Lincoln National Corp acquired a new position in Suburban Propane Partners during the 3rd quarter valued at about $183,000. Finally, Avantax Advisory Services Inc. acquired a new position in Suburban Propane Partners during the 4th quarter valued at about $318,000. 30.94% of the stock is owned by institutional investors.

Suburban Propane Partners Price Performance

Shares of SPH stock opened at $19.69 on Monday. Suburban Propane Partners has a twelve month low of $14.42 and a twelve month high of $22.33. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.38 and a beta of 0.43. The stock has a fifty day simple moving average of $20.29 and a two-hundred day simple moving average of $18.65. The company has a current ratio of 0.72, a quick ratio of 0.52 and a debt-to-equity ratio of 2.26.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, February 8th. The energy company reported $0.38 earnings per share for the quarter. Suburban Propane Partners had a return on equity of 17.97% and a net margin of 7.36%. The business had revenue of $365.83 million during the quarter.

Suburban Propane Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Monday, May 6th. Suburban Propane Partners’s payout ratio is 81.76%.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.