Suburban Propane Partners (NYSE:SPH) Shares Gap Up Following Dividend Announcement

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $19.10, but opened at $19.84. Suburban Propane Partners shares last traded at $19.41, with a volume of 60,937 shares traded.

The newly announced dividend which will be paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.76%. Suburban Propane Partners’s payout ratio is 114.04%.

Suburban Propane Partners Stock Up 0.7 %

The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.33 and a current ratio of 0.51. The firm’s fifty day simple moving average is $18.36 and its 200 day simple moving average is $18.22. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.89 and a beta of 0.48.

Insider Transactions at Suburban Propane Partners

In other Suburban Propane Partners news, VP Craig Palleschi sold 2,800 shares of the business’s 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 sale, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. The trade was a 11.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP A Davin Dambrosio sold 6,500 shares of the business’s 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 transaction, the vice president now directly owns 76,176 shares in the company, valued at $1,439,726.40. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Suburban Propane Partners

Institutional investors have recently made changes to their positions in the company. Cetera Trust Company N.A acquired a new position in Suburban Propane Partners in the 4th quarter valued at $28,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Suburban Propane Partners during the 2nd quarter valued at $193,000. Oppenheimer & Co. Inc. grew its holdings in shares of Suburban Propane Partners by 7.9% during 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 bought a new position in shares of Suburban Propane Partners in the third quarter worth $270,000. Finally, Greenup Street Wealth Management LLC raised its position in shares of Suburban Propane Partners by 8.1% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock valued at $402,000 after buying an additional 1,675 shares in 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.