Suburban Propane Partners LP (NYSE:SPH) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Investors of record on Tuesday, November 6th will be paid a dividend of 0.60 per share by the energy company on Tuesday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 10.29%. The ex-dividend date of this dividend is Monday, November 5th.
Suburban Propane Partners has decreased its dividend by an average of 2.3% annually over the last three years. Suburban Propane Partners has a payout ratio of 205.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Suburban Propane Partners to earn $1.70 per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of 141.2%.
NYSE SPH traded up $0.15 during trading hours on Thursday, reaching $23.32. 165,360 shares of the company’s stock traded hands, compared to its average volume of 211,074. Suburban Propane Partners has a 52-week low of $21.85 and a 52-week high of $26.73. The stock has a market cap of $1.42 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 3.75 and a beta of 0.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.07 and a quick ratio of 0.74.
Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, November 15th. The energy company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. Suburban Propane Partners had a net margin of 5.69% and a return on equity of 13.02%. The company had revenue of $192.92 million during the quarter, compared to analysts’ expectations of $189.92 million. Research analysts expect that Suburban Propane Partners will post 1.54 earnings per share for the current fiscal year.
In other Suburban Propane Partners news, Director Jane Swift sold 1,500 shares of Suburban Propane Partners stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $23.67, for a total value of $35,505.00. Following the completion of the transaction, the director now directly owns 13,581 shares of the company’s stock, valued at $321,462.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. ValuEngine raised shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Suburban Propane Partners presently has an average rating of “Hold” and a consensus target price of $26.75.
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About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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