C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $24.34 Million in Suburban Propane Partners, L.P. (NYSE:SPH)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Suburban Propane Partners, L.P. (NYSE:SPH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,415,120 shares of the energy company’s stock, valued at approximately $24,340,000. Suburban Propane Partners comprises 0.9% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of SPH. Janney Montgomery Scott LLC raised its stake in shares of Suburban Propane Partners by 3.8% in the third quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock worth $898,000 after purchasing an additional 1,818 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Suburban Propane Partners by 7.9% during the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock valued at $197,000 after acquiring an additional 800 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Suburban Propane Partners during the third quarter valued at approximately $270,000. JPMorgan Chase & Co. increased its position in shares of Suburban Propane Partners by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock valued at $11,552,000 after acquiring an additional 155,360 shares during the last quarter. Finally, Cetera Trust Company N.A purchased a new stake in shares of Suburban Propane Partners during the fourth quarter valued at approximately $28,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP A Davin Dambrosio sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total value of $122,850.00. Following the completion of the transaction, the vice president now directly owns 76,176 shares of the company’s stock, valued at $1,439,726.40. This trade represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Schueler sold 7,746 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $20.93, for a total value of $162,123.78. Following the completion of the transaction, the vice president now directly owns 11,133 shares of the company’s stock, valued at $233,013.69. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,046 shares of company stock valued at $334,590 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Suburban Propane Partners Stock Performance

Shares of SPH opened at $21.60 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 20.37 and a beta of 0.51. The stock has a 50 day moving average of $19.14 and a 200 day moving average of $18.49. Suburban Propane Partners, L.P. has a 12 month low of $15.20 and a 12 month high of $21.89.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 11.54% and a net margin of 5.18%. During the same period in the previous year, the company earned $0.38 earnings per share.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend was Tuesday, February 4th. Suburban Propane Partners’s dividend payout ratio is currently 122.64%.

Suburban Propane Partners 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.