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

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, May 7th will be given 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 dividend 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 dividend payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Performance

Shares of SPH opened at $19.85 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.52 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $1.27 billion, a P/E ratio of 12.48 and a beta of 0.43. The firm’s fifty day simple moving average is $20.29 and its two-hundred day simple moving average is $18.60. Suburban Propane Partners has a 12 month low of $14.42 and a 12 month high of $22.33.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Mizuho cut shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 29th.

Insider Buying and Selling at Suburban Propane Partners

In other news, SVP Neil Scanlon sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.33, for a total transaction of $502,580.00. Following the completion of the transaction, the senior vice president now directly owns 162,129 shares of the company’s stock, valued at $3,133,953.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.