Suburban Propane Partners, L.P. Declares Quarterly Dividend of $0.33 (NYSE:SPH)

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.325 per share by the energy company on Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 6.90%. The ex-dividend date is Tuesday, November 5th.

Suburban Propane Partners has decreased its dividend payment by an average of 10.3% per year over the last three years. Suburban Propane Partners has a payout ratio of 59.1% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Price Performance

NYSE:SPH opened at $18.84 on Friday. Suburban Propane Partners has a 52-week low of $15.20 and a 52-week high of $22.33. The company has a market cap of $1.21 billion, a P/E ratio of 11.15 and a beta of 0.44. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. The stock’s 50-day simple moving average is $17.99 and its 200 day simple moving average is $18.71.

Suburban Propane Partners (NYSE:SPH) last posted 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). Suburban Propane Partners had a net margin of 7.28% and a return on equity of 16.69%. The company had revenue of $254.61 million during the quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SPH shares. Wells Fargo & Company lowered shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Friday, August 30th. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.67.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.37, for a total value of $43,425.00. Following the transaction, the director now directly owns 37,015 shares in the company, valued at $642,950.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

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.