Suburban Propane Partners (NYSE:SPH) Shares Gap Down After Earnings Miss

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $21.64, but opened at $20.22. Suburban Propane Partners shares last traded at $20.58, with a volume of 21,343 shares trading hands.

The energy company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.59% and a return on equity of 12.64%. During the same period in the previous year, the business posted $0.38 earnings per share.

Suburban Propane Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th will be paid a $0.325 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $1.30 dividend on an annualized basis and a yield of 6.18%. Suburban Propane Partners’s dividend payout ratio is currently 114.04%.

Insiders Place Their Bets

In other Suburban Propane Partners news, VP Craig Palleschi sold 2,800 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total value of $49,616.00. Following the transaction, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. This trade represents a 11.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP A Davin Dambrosio sold 6,500 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total transaction of $122,850.00. Following the sale, the vice president now directly owns 76,176 shares of the company’s stock, valued at $1,439,726.40. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Suburban Propane Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Trust Company N.A acquired a new stake in Suburban Propane Partners in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Suburban Propane Partners in the fourth quarter valued at approximately $31,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC purchased a new position in Suburban Propane Partners during the fourth quarter worth approximately $34,000. Finally, Tandem Financial LLC acquired a new position in Suburban Propane Partners during the fourth quarter worth $39,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Trading Up 1.5 %

The company has a market capitalization of $1.36 billion, a PE ratio of 18.47 and a beta of 0.50. The company has a fifty day simple moving average of $18.86 and a 200-day simple moving average of $18.36. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 2.21.

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.