Wealthstar Advisors LLC Sells 2,089 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Wealthstar Advisors LLC cut its position in Suburban Propane Partners, L.P. (NYSE:SPH) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,372 shares of the energy company’s stock after selling 2,089 shares during the quarter. Wealthstar Advisors LLC’s holdings in Suburban Propane Partners were worth $539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. boosted its position in Suburban Propane Partners by 12,343.1% during the third quarter. Citigroup Inc. now owns 31,481 shares of the energy company’s stock worth $505,000 after purchasing an additional 31,228 shares during the period. AdvisorNet Financial Inc boosted its position in Suburban Propane Partners by 16.5% during the fourth quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock worth $74,000 after purchasing an additional 591 shares during the period. Spirit of America Management Corp NY bought a new position in Suburban Propane Partners during the fourth quarter worth $178,000. Custom Index Systems LLC bought a new position in Suburban Propane Partners during the fourth quarter worth $1,679,000. Finally, Koshinski Asset Management Inc. boosted its position in Suburban Propane Partners by 100.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 22,000 shares of the energy company’s stock worth $391,000 after purchasing an additional 11,000 shares during the period. 30.94% of the stock is owned by institutional investors.

Suburban Propane Partners Stock Performance

Shares of NYSE:SPH traded up $0.11 on Thursday, reaching $19.23. 40,545 shares of the company’s stock were exchanged, compared to its average volume of 167,288. Suburban Propane Partners, L.P. has a twelve month low of $14.42 and a twelve month high of $22.33. The company has a fifty day moving average of $19.54 and a 200-day moving average of $19.50. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 11.38 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 1.89.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, May 9th. The energy company reported $1.72 earnings per share (EPS) for the quarter. The business had revenue of $498.09 million for the quarter. Suburban Propane Partners had a return on equity of 18.91% and a net margin of 8.02%.

Suburban Propane Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.76%. Suburban Propane Partners’s payout ratio is 76.92%.

Insider Activity

In other news, Director Harold R. Logan, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $19.18, for a total transaction of $57,540.00. Following the completion of the sale, the director now directly owns 39,515 shares in the company, valued at approximately $757,897.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SPH shares. Argus lifted their price objective on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. StockNews.com raised Suburban Propane Partners from a “hold” rating to a “buy” rating in a report on Friday, June 21st.

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.