Suburban Propane Partners, L.P. (NYSE:SPH) Sees Large Decline in Short Interest

Suburban Propane Partners, L.P. (NYSE:SPH) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,110,000 shares, a decline of 18.4% from the February 13th total of 1,360,000 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 265,700 shares, the short-interest ratio is currently 4.2 days.

Insiders Place Their Bets

In related news, VP Michael A. Schueler sold 7,746 shares of the business’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 sale, the vice president now owns 11,133 shares of the company’s stock, valued at $233,013.69. The trade was a 41.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas Brinkworth sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $20.50, for a total value of $41,000.00. Following the completion of the sale, the senior vice president now directly owns 159,355 shares in the company, valued at approximately $3,266,777.50. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Suburban Propane Partners during the fourth quarter worth $24,340,000. JPMorgan Chase & Co. raised 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 worth $11,552,000 after acquiring an additional 155,360 shares during the last quarter. Oppenheimer & Co. Inc. raised 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 worth $197,000 after acquiring an additional 800 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of Suburban Propane Partners by 10.3% during the fourth quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock worth $3,340,000 after acquiring an additional 18,196 shares during the last quarter. Finally, Wealthstar Advisors LLC bought a new stake in shares of Suburban Propane Partners during the fourth quarter worth $554,000. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock traded up $0.29 on Wednesday, reaching $21.23. The company’s stock had a trading volume of 237,242 shares, compared to its average volume of 185,877. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 20.03 and a beta of 0.46. The business’s fifty day moving average price is $20.50 and its 200 day moving average price is $19.00. Suburban Propane Partners has a twelve month low of $15.20 and a twelve month high of $22.24.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, February 6th. The energy company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 11.81% and a net margin of 5.18%. During the same period last year, the business posted $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. Stockholders of record on Tuesday, February 4th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.12%. Suburban Propane Partners’s payout ratio is currently 122.64%.

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.