C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Suburban Propane Partners, L.P. (NYSE:SPH)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,415,120 shares of the energy company’s stock, valued at approximately $24,340,000. Suburban Propane Partners makes up about 0.9% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 22nd biggest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 2.19% of Suburban Propane Partners at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPH. Janney Montgomery Scott LLC grew its stake in Suburban Propane Partners by 3.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock valued at $898,000 after buying an additional 1,818 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Suburban Propane Partners by 7.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after purchasing an additional 800 shares in the last quarter. Captrust Financial Advisors acquired a new position in Suburban Propane Partners in the 3rd quarter worth about $270,000. JPMorgan Chase & Co. grew its position in shares of Suburban Propane Partners by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock valued at $11,552,000 after buying an additional 155,360 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new stake in shares of Suburban Propane Partners in the 4th quarter valued at about $28,000. 30.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Suburban Propane Partners news, VP Craig Palleschi sold 2,800 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total value of $49,616.00. Following the transaction, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. This represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP A Davin Dambrosio sold 6,500 shares of the stock in a transaction that occurred 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 owns 76,176 shares in the company, valued at approximately $1,439,726.40. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,046 shares of company stock worth $334,590. Corporate insiders own 1.30% of the company’s stock.

Suburban Propane Partners Stock Up 0.6 %

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

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, February 6th. The energy company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.54%. During the same period in the prior year, the business posted $0.38 EPS.

Suburban Propane Partners Dividend Announcement

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

About Suburban Propane Partners

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.