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 Suburban Propane Partners stock in a transaction 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 transaction, 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 Price Performance

Shares of NYSE:SPH opened at $17.74 on Thursday. The company’s 50-day moving average is $18.07 and its 200 day moving average is $19.25. 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 company has a market capitalization of $1.14 billion, a P/E ratio of 10.50 and a beta of 0.44. Suburban Propane Partners, L.P. has a fifty-two week low of $14.50 and a fifty-two week high of $22.33.

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 company had revenue of $254.61 million during 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 business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date was Tuesday, August 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 76.92%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SPH shares. StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. 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 report on Monday, June 10th. Finally, Wells Fargo & Company downgraded shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a report 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 company. According to data from MarketBeat, Suburban Propane Partners has a consensus rating of “Hold” and a consensus price target of $19.67.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in Suburban Propane Partners by 428.9% during the fourth quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock valued at $6,930,000 after purchasing an additional 316,430 shares during the last quarter. Blackstone Inc. lifted its holdings in Suburban Propane Partners by 3.0% during the first quarter. Blackstone Inc. now owns 338,281 shares of the energy company’s stock valued at $6,911,000 after purchasing an additional 10,000 shares during the last quarter. Foundry Partners LLC lifted its holdings in Suburban Propane Partners by 5.3% during the second quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock valued at $4,201,000 after purchasing an additional 11,136 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Suburban Propane Partners by 33.7% during the second quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock valued at $3,787,000 after purchasing an additional 50,212 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Suburban Propane Partners by 4.4% during the second quarter. Private Advisor Group LLC now owns 64,281 shares of the energy company’s stock valued at $1,221,000 after purchasing an additional 2,732 shares during the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

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.