Arrow Investment Advisors LLC reduced its position in Suburban Propane Partners LP (NYSE:SPH) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,508 shares of the energy company’s stock after selling 436 shares during the quarter. Arrow Investment Advisors LLC’s holdings in Suburban Propane Partners were worth $414,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SFE Investment Counsel boosted its holdings in shares of Suburban Propane Partners by 2.7% in the 3rd quarter. SFE Investment Counsel now owns 23,160 shares of the energy company’s stock worth $547,000 after purchasing an additional 600 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Suburban Propane Partners by 2.7% during the 2nd quarter. Independent Advisor Alliance now owns 23,927 shares of the energy company’s stock valued at $581,000 after acquiring an additional 624 shares during the period. MHI Funds LLC boosted its holdings in Suburban Propane Partners by 11.3% during the 3rd quarter. MHI Funds LLC now owns 6,669 shares of the energy company’s stock valued at $158,000 after acquiring an additional 677 shares during the period. Commerce Bank boosted its holdings in Suburban Propane Partners by 6.4% during the 2nd quarter. Commerce Bank now owns 12,613 shares of the energy company’s stock valued at $306,000 after acquiring an additional 756 shares during the period. Finally, US Bancorp DE boosted its holdings in Suburban Propane Partners by 28.4% during the 2nd quarter. US Bancorp DE now owns 4,525 shares of the energy company’s stock valued at $110,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 31.31% of the company’s stock.
Several brokerages recently weighed in on SPH. ValuEngine upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Zacks Investment Research upgraded Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Saturday, October 26th.
Shares of SPH stock opened at $23.98 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 19.34, a P/E/G ratio of 4.10 and a beta of 0.88. Suburban Propane Partners LP has a 1-year low of $18.63 and a 1-year high of $24.89. The business has a 50-day moving average of $23.65 and a 200 day moving average of $23.53. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.94 and a quick ratio of 0.67.
Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, August 8th. The energy company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.05). The company had revenue of $214.21 million for the quarter, compared to analysts’ expectations of $215.76 million. Suburban Propane Partners had a net margin of 5.34% and a return on equity of 13.31%. Analysts anticipate that Suburban Propane Partners LP will post 1.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 10.01%. The ex-dividend date of this dividend is Monday, November 4th. Suburban Propane Partners’s dividend payout ratio is presently 193.55%.
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. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The 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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