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

Suburban Propane Partners, L.P. (NYSE:SPH) saw a significant decrease in short interest in January. As of January 15th, there was short interest totaling 411,399 shares, a decrease of 20.9% from the December 31st total of 520,291 shares. Based on an average trading volume of 128,332 shares, the short-interest ratio is presently 3.2 days. Approximately 0.6% of the company’s shares are short sold. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 128,332 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analyst Weigh In

SPH has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Suburban Propane Partners in a research note on Wednesday, January 21st. Argus raised shares of Suburban Propane Partners to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Zacks Research raised Suburban Propane Partners to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently bought and sold shares of SPH. Founders Capital Management increased its stake in shares of Suburban Propane Partners by 56.4% during the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after acquiring an additional 677 shares during the period. Triumph Capital Management bought a new position in shares of Suburban Propane Partners during the 3rd quarter valued at about $50,000. Advisory Services Network LLC acquired a new position in shares of Suburban Propane Partners in the 3rd quarter worth approximately $62,000. Geneos Wealth Management Inc. lifted its stake in Suburban Propane Partners by 37.7% during the third quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock valued at $68,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Suburban Propane Partners in the third quarter valued at $76,000. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

SPH stock traded down $0.18 during midday trading on Friday, reaching $20.23. The company had a trading volume of 173,876 shares, compared to its average volume of 126,078. The firm has a market capitalization of $1.34 billion, a PE ratio of 12.33 and a beta of 0.41. Suburban Propane Partners has a fifty-two week low of $17.30 and a fifty-two week high of $22.24. The company has a quick ratio of 0.31, a current ratio of 0.55 and a debt-to-equity ratio of 2.02. The stock has a 50 day moving average price of $19.07 and a 200 day moving average price of $18.72.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, November 13th. The energy company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Suburban Propane Partners had a net margin of 7.44% and a return on equity of 16.31%. The firm had revenue of $211.38 million for the quarter, compared to analyst estimates of $227.00 million.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Tuesday, February 3rd will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.4%. The ex-dividend date is Tuesday, February 3rd. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 79.27%.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.