Suburban Propane Partners (NYSE:SPH) Shares Down 6.7% on Disappointing Earnings

Suburban Propane Partners, L.P. (NYSE:SPH) dropped 6.7% during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $18.87 and last traded at $18.72. Approximately 110,644 shares were traded during trading, a decline of 44% from the average daily volume of 198,263 shares. The stock had previously closed at $20.06.

The energy company reported $2.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.11). The firm had revenue of $587.66 million during the quarter, compared to analyst estimates of $548.00 million. Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.81%.

Suburban Propane Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th will be paid a $0.325 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $1.30 annualized dividend and a dividend yield of 6.88%. Suburban Propane Partners’s dividend payout ratio is presently 122.64%.

Insiders Place Their Bets

In other Suburban Propane Partners news, VP Michael A. Schueler sold 7,746 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total transaction of $162,123.78. Following the transaction, the vice president now directly owns 11,133 shares of the company’s stock, valued at $233,013.69. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Brinkworth sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $20.50, for a total transaction of $41,000.00. Following the sale, the senior vice president now directly owns 159,355 shares of the company’s stock, valued at $3,266,777.50. This represents a 1.24 % 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

Several hedge funds and other institutional investors have recently made changes to their positions in SPH. Cetera Trust Company N.A acquired a new position in Suburban Propane Partners in the 4th quarter valued at $28,000. Farther Finance Advisors LLC raised its position in shares of Suburban Propane Partners by 275.5% in the first quarter. Farther Finance Advisors LLC now owns 1,363 shares of the energy company’s stock valued at $29,000 after buying an additional 1,000 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at about $31,000. Duncker Streett & Co. Inc. acquired a new position in Suburban Propane Partners during the fourth quarter worth about $34,000. Finally, Vision Financial Markets LLC acquired a new position in Suburban Propane Partners during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

The company has a market cap of $1.22 billion, a PE ratio of 17.83 and a beta of 0.18. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.51 and a current ratio of 0.70. The firm’s 50 day moving average is $20.37 and its 200-day moving average is $19.62.

About Suburban Propane Partners

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.