Shrier Wealth Management LLC Purchases New Stake in Suburban Propane Partners, L.P. $SPH

Shrier Wealth Management LLC acquired a new position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,517 shares of the energy company’s stock, valued at approximately $473,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPH. Alps Advisors Inc. increased its stake in shares of Suburban Propane Partners by 3.1% in the 3rd quarter. Alps Advisors Inc. now owns 14,327,026 shares of the energy company’s stock worth $267,199,000 after acquiring an additional 433,748 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Suburban Propane Partners by 18.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,266,303 shares of the energy company’s stock valued at $23,465,000 after acquiring an additional 199,693 shares during the last quarter. Bowen Hanes & Co. Inc. grew its holdings in shares of Suburban Propane Partners by 24.5% in the third quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after purchasing an additional 200,000 shares during the period. ING Groep NV grew its holdings in shares of Suburban Propane Partners by 49.4% in the third quarter. ING Groep NV now owns 118,000 shares of the energy company’s stock valued at $2,201,000 after purchasing an additional 39,000 shares during the period. Finally, Osaic Holdings Inc. increased its position in Suburban Propane Partners by 88.1% during the second quarter. Osaic Holdings Inc. now owns 61,748 shares of the energy company’s stock worth $1,144,000 after purchasing an additional 28,921 shares during the last quarter. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

NYSE SPH opened at $19.74 on Wednesday. The stock has a fifty day simple moving average of $20.25 and a 200-day simple moving average of $19.27. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 2.11. The stock has a market cap of $1.31 billion, a PE ratio of 9.72 and a beta of 0.42. Suburban Propane Partners, L.P. has a twelve month low of $17.30 and a twelve month high of $21.72.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.16. The firm had revenue of $370.39 million for the quarter, compared to analyst estimates of $392.00 million. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%.

Suburban Propane Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Tuesday, February 3rd. Suburban Propane Partners’s payout ratio is 64.04%.

Analysts Set New Price Targets

A number of brokerages have commented on SPH. Argus raised shares of Suburban Propane Partners to a “strong-buy” rating in a research note on Wednesday, January 21st. Weiss Ratings upgraded shares of Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 18th. Finally, Zacks Research raised shares of Suburban Propane Partners to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

About Suburban Propane Partners

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.