Suburban Propane Partners, L.P. (SPH) to Issue Quarterly Dividend of $0.33 on May 14th

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Tuesday, May 7th will be paid a dividend of 0.325 per share by the energy company on Tuesday, May 14th. This represents a $1.30 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date is Monday, May 6th.

Suburban Propane Partners has decreased its dividend payment by an average of 10.3% annually over the last three years. Suburban Propane Partners has a payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Down 0.1 %

Shares of NYSE:SPH opened at $19.84 on Friday. The business has a 50 day simple moving average of $20.23 and a two-hundred day simple moving average of $18.74. The firm has a market capitalization of $1.27 billion, a PE ratio of 12.48 and a beta of 0.44. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.72 and a quick ratio of 0.52. Suburban Propane Partners has a 1 year low of $14.42 and a 1 year high of $22.33.

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

Wall Street Analyst Weigh In

SPH has been the topic of several research analyst reports. Mizuho downgraded shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 29th. StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th.

Insiders Place Their Bets

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

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.