Insider Selling: Suburban Propane Partners, L.P. (NYSE:SPH) Director Sells 2,500 Shares of Stock

Suburban Propane Partners, L.P. (NYSE:SPH) Director Harold R. Logan, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.37, for a total transaction of $43,425.00. Following the sale, the director now directly owns 37,015 shares in the company, valued at $642,950.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Suburban Propane Partners Trading Up 2.9 %

Shares of SPH traded up $0.51 during trading hours on Tuesday, hitting $18.03. 334,840 shares of the stock were exchanged, compared to its average volume of 242,497. Suburban Propane Partners, L.P. has a fifty-two week low of $14.47 and a fifty-two week high of $22.33. The business has a 50-day moving average of $18.09 and a 200-day moving average of $19.27. The firm has a market capitalization of $1.16 billion, a P/E ratio of 10.56 and a beta of 0.44. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.65 and a quick ratio of 0.45.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). The business had revenue of $254.61 million for the quarter. Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.325 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.30 dividend on an annualized basis and a yield of 7.21%. Suburban Propane Partners’s payout ratio is currently 76.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPH. Argus lifted their price target on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company cut Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target for the company. in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Suburban Propane Partners presently has a consensus rating of “Hold” and a consensus target price of $19.67.

Hedge Funds Weigh In On Suburban Propane Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its position in shares of Suburban Propane Partners by 1.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 47,810 shares of the energy company’s stock valued at $977,000 after acquiring an additional 624 shares during the period. CWM LLC increased its stake in Suburban Propane Partners by 52.1% in the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after purchasing an additional 734 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Suburban Propane Partners by 64.5% during the first quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,000 shares during the period. Private Advisor Group LLC boosted its position in shares of Suburban Propane Partners by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock worth $970,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in shares of Suburban Propane Partners by 28.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock valued at $470,000 after buying an additional 5,113 shares during the period. 30.94% of the stock is currently owned by institutional investors.

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.