Steward Partners Investment Advisory LLC bought a new position in Suburban Propane Partners LP (NYSE:SPH) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,067 shares of the energy company’s stock, valued at approximately $25,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in Suburban Propane Partners by 100.5% in the 1st quarter. Global Retirement Partners LLC now owns 1,596 shares of the energy company’s stock worth $36,000 after purchasing an additional 800 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in Suburban Propane Partners in the 2nd quarter worth approximately $27,000. Sigma Planning Corp boosted its stake in Suburban Propane Partners by 9.4% in the 1st quarter. Sigma Planning Corp now owns 15,066 shares of the energy company’s stock worth $338,000 after purchasing an additional 1,292 shares in the last quarter. Summit Global Investments raised its position in Suburban Propane Partners by 5.6% during the 1st quarter. Summit Global Investments now owns 32,300 shares of the energy company’s stock worth $724,000 after buying an additional 1,700 shares during the last quarter. Finally, Mcmillion Capital Management Inc. purchased a new position in Suburban Propane Partners during the 2nd quarter worth approximately $48,000. Institutional investors own 30.41% of the company’s stock.
SPH opened at $22.78 on Friday. Suburban Propane Partners LP has a 12-month low of $18.63 and a 12-month high of $24.89. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $1.43 billion, a PE ratio of 21.25, a P/E/G ratio of 4.61 and a beta of 0.86. The firm has a 50 day moving average of $23.62 and a two-hundred day moving average of $23.07.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 10.54%. The ex-dividend date of this dividend was Monday, August 5th. Suburban Propane Partners’s dividend payout ratio is presently 193.55%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. ValuEngine lowered shares of Suburban Propane Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
In other news, insider Douglas Brinkworth sold 9,000 shares of Suburban Propane Partners stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $24.25, for a total transaction of $218,250.00. Following the completion of the transaction, the insider now directly owns 83,108 shares of the company’s stock, valued at approximately $2,015,369. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daniel S. Bloomstein sold 3,000 shares of Suburban Propane Partners stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $24.30, for a total transaction of $72,900.00. Following the transaction, the vice president now directly owns 24,778 shares of the company’s stock, valued at $602,105.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,383 shares of company stock valued at $631,078 over the last three months. 0.75% of the stock is currently owned by insiders.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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