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

Suburban Propane Partners, L.P. (NYSE:SPH) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 965,800 shares, a drop of 13.0% from the February 28th total of 1,110,000 shares. Based on an average daily volume of 282,700 shares, the short-interest ratio is presently 3.4 days. Approximately 1.6% of the shares of the company are short sold.

Insider Buying and Selling at Suburban Propane Partners

In other news, SVP Douglas Brinkworth sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $20.50, for a total value of $41,000.00. Following the sale, the senior vice president now directly owns 159,355 shares of the company’s stock, valued at approximately $3,266,777.50. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Schueler sold 7,746 shares of Suburban Propane Partners stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $20.93, for a total value of $162,123.78. Following the completion of the transaction, the vice president now owns 11,133 shares in the company, valued at $233,013.69. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Suburban Propane Partners

Hedge funds have recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Suburban Propane Partners in the 4th quarter valued at approximately $24,340,000. Raymond James Financial Inc. acquired a new position in shares of Suburban Propane Partners in the fourth quarter valued at $3,474,000. JPMorgan Chase & Co. lifted its position in Suburban Propane Partners by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock worth $11,552,000 after purchasing an additional 155,360 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Suburban Propane Partners by 1.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,404,228 shares of the energy company’s stock worth $58,553,000 after buying an additional 33,560 shares in the last quarter. Finally, Wealthstar Advisors LLC bought a new stake in Suburban Propane Partners in the 4th quarter valued at $554,000. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

SPH opened at $21.48 on Wednesday. Suburban Propane Partners has a 12-month low of $15.20 and a 12-month high of $22.24. The firm has a market capitalization of $1.39 billion, a P/E ratio of 20.26 and a beta of 0.46. The stock’s 50 day moving average price is $20.86 and its two-hundred day moving average price is $19.23. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 2.39.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, February 6th. The energy company reported $0.30 earnings per share (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 quarter in the prior year, the business posted $0.38 EPS.

Suburban Propane Partners Announces Dividend

The business also recently disclosed 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. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend was Tuesday, February 4th. Suburban Propane Partners’s dividend 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.