Suburban Propane Partners, L.P. (NYSE:SPH) Declares $0.33 Quarterly Dividend

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Investors of record on Tuesday, August 6th will be given a dividend of 0.325 per share by the energy company on Tuesday, August 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date is Tuesday, August 6th.

Suburban Propane Partners has decreased its dividend by an average of 10.3% annually over the last three years. Suburban Propane Partners has a dividend payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings.

Suburban Propane Partners Trading Up 0.9 %

SPH opened at $18.61 on Friday. The firm has a market capitalization of $1.19 billion, a PE ratio of 11.01 and a beta of 0.44. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.65. The company’s 50-day moving average is $19.34 and its 200 day moving average is $19.59. Suburban Propane Partners has a fifty-two week low of $14.42 and a fifty-two week high of $22.33.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $1.72 earnings per share for the quarter. The business had revenue of $498.09 million for the quarter. Suburban Propane Partners had a return on equity of 18.91% and a net margin of 8.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Argus raised their price objective on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 3,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $19.18, for a total transaction of $57,540.00. Following the completion of the transaction, the director now owns 39,515 shares in the company, valued at $757,897.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

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.