Insider Selling: Suburban Propane Partners, L.P. (NYSE:SPH) VP Sells 2,800 Shares of Stock

Suburban Propane Partners, L.P. (NYSE:SPH) VP Craig Palleschi sold 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total value of $49,616.00. Following the completion of the transaction, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. This trade represents a 11.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Suburban Propane Partners Stock Performance

Shares of Suburban Propane Partners stock opened at $18.15 on Friday. Suburban Propane Partners, L.P. has a one year low of $15.20 and a one year high of $22.33. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 15.92 and a beta of 0.43. 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 business’s 50 day moving average price is $18.24 and its 200 day moving average price is $18.55.

Suburban Propane Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were given a $0.325 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.30 dividend on an annualized basis and a yield of 7.16%. Suburban Propane Partners’s dividend payout ratio is currently 114.04%.

Institutional Investors Weigh In On Suburban Propane Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPH. Commonwealth Equity Services LLC raised its position in Suburban Propane Partners by 33.7% in 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 period. Simplicity Wealth LLC purchased a new stake in Suburban Propane Partners in the second quarter valued at $418,000. Captrust Financial Advisors purchased a new stake in Suburban Propane Partners in the third quarter valued at $270,000. LRI Investments LLC purchased a new stake in Suburban Propane Partners in the first quarter valued at $255,000. Finally, Foundry Partners LLC raised its position in Suburban Propane Partners by 5.3% in 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 period. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SPH shares. StockNews.com downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Wells Fargo & Company downgraded Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a research report on Friday, August 30th.

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.