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

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

Suburban Propane Partners Price Performance

Shares of Suburban Propane Partners stock traded up $0.29 during trading on Wednesday, hitting $21.23. The stock had a trading volume of 237,242 shares, compared to its average volume of 185,877. Suburban Propane Partners has a fifty-two week low of $15.20 and a fifty-two week high of $22.24. The firm has a market cap of $1.37 billion, a P/E ratio of 20.03 and a beta of 0.46. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.70 and a quick ratio of 0.51. The business has a fifty day moving average of $20.50 and a two-hundred day moving average of $19.00.

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 11.81%. During the same period in the previous year, the company earned $0.38 EPS.

Suburban Propane Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.12%. The ex-dividend date was Tuesday, February 4th. Suburban Propane Partners’s dividend payout ratio is currently 122.64%.

Insider Transactions at Suburban Propane Partners

In other news, SVP Douglas Brinkworth sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was 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 owns 159,355 shares in the company, valued at $3,266,777.50. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael A. Schueler sold 7,746 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total value of $162,123.78. Following the completion of the sale, the vice president now owns 11,133 shares of the company’s stock, valued at approximately $233,013.69. This trade represents a 41.03 % 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

A number of hedge funds and other institutional investors have recently made changes to their positions in SPH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Suburban Propane Partners by 1.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,404,228 shares of the energy company’s stock valued at $58,553,000 after acquiring an additional 33,560 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Suburban Propane Partners in the 4th quarter valued at approximately $24,340,000. JPMorgan Chase & Co. raised its stake in shares of Suburban Propane Partners by 6.2% in the 4th quarter. JPMorgan Chase & Co. now owns 684,155 shares of the energy company’s stock valued at $11,767,000 after acquiring an additional 40,239 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Suburban Propane Partners in the 4th quarter valued at approximately $3,474,000. Finally, Levin Capital Strategies L.P. raised its stake in shares of Suburban Propane Partners by 10.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock valued at $3,340,000 after acquiring an additional 18,196 shares in the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

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.