Suburban Propane Partners (NYSE:SPH) Sees Large Volume Increase – Here’s What Happened

Suburban Propane Partners, L.P. (NYSE:SPH) shares saw an uptick in trading volume on Wednesday . 77,284 shares were traded during trading, a decline of 65% from the previous session’s volume of 221,141 shares.The stock last traded at $19.06 and had previously closed at $18.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Wells Fargo & Company downgraded shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective for the company. in a research report on Friday, August 30th.

Suburban Propane Partners Stock Up 1.8 %

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. The stock has a 50 day moving average price of $18.31 and a 200 day moving average price of $18.51. The company has a market cap of $1.24 billion, a P/E ratio of 16.63 and a beta of 0.43.

Suburban Propane Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.30 dividend on an annualized basis and a yield of 6.74%. Suburban Propane Partners’s payout ratio is currently 114.04%.

Insider Buying and Selling at Suburban Propane Partners

In related news, VP Craig Palleschi sold 2,800 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 21,898 shares of the company’s stock, valued at $388,032.56. This trade represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harold R. Logan, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.37, for a total transaction of $43,425.00. Following the completion of the sale, the director now directly owns 37,015 shares in the company, valued at $642,950.55. This trade represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

Several hedge funds and other institutional investors have recently modified their holdings of SPH. Foundry Partners LLC increased its holdings in Suburban Propane Partners by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock valued at $4,201,000 after purchasing an additional 11,136 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Suburban Propane Partners by 33.7% in the second quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock valued at $3,787,000 after buying an additional 50,212 shares during the last quarter. Private Advisor Group LLC grew its holdings in Suburban Propane Partners by 4.4% during the 2nd quarter. Private Advisor Group LLC now owns 64,281 shares of the energy company’s stock worth $1,221,000 after acquiring an additional 2,732 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Suburban Propane Partners by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock worth $898,000 after acquiring an additional 1,818 shares during the last quarter. Finally, Simplicity Wealth LLC raised its stake in shares of Suburban Propane Partners by 4.2% in the third quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock worth $412,000 after acquiring an additional 936 shares during the last quarter. Institutional investors own 30.94% of the company’s stock.

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.