Clearbridge Investments LLC Sells 2,164 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Clearbridge Investments LLC lowered its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPHGet Rating) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 544,099 shares of the energy company’s stock after selling 2,164 shares during the period. Clearbridge Investments LLC’s holdings in Suburban Propane Partners were worth $8,303,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Antonetti Capital Management LLC bought a new position in Suburban Propane Partners during the first quarter worth $29,000. GPS Wealth Strategies Group LLC bought a new position in Suburban Propane Partners during the second quarter worth $31,000. Sargent Bickham Lagudis LLC bought a new position in Suburban Propane Partners during the second quarter worth $31,000. Venture Visionary Partners LLC bought a new position in Suburban Propane Partners during the second quarter worth $56,000. Finally, Selective Wealth Management Inc. raised its stake in Suburban Propane Partners by 22.3% during the second quarter. Selective Wealth Management Inc. now owns 3,833 shares of the energy company’s stock worth $58,000 after buying an additional 700 shares during the last quarter. Institutional investors own 20.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SPH shares. StockNews.com downgraded shares of Suburban Propane Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 19th. Wells Fargo & Company lowered their target price on shares of Suburban Propane Partners from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, November 17th.

Insiders Place Their Bets

In other Suburban Propane Partners news, SVP Douglas Brinkworth sold 12,500 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $16.03, for a total value of $200,375.00. Following the completion of the sale, the senior vice president now directly owns 164,113 shares in the company, valued at $2,630,731.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Suburban Propane Partners Trading Up 1.9 %

NYSE:SPH opened at $16.25 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.45 and a beta of 0.66. The firm has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $16.23. Suburban Propane Partners, L.P. has a 12 month low of $13.83 and a 12 month high of $17.75.

Suburban Propane Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Shareholders of record on Tuesday, November 1st were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend was Monday, October 31st. Suburban Propane Partners’s payout ratio is 59.63%.

About Suburban Propane Partners

(Get Rating)

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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Institutional Ownership by Quarter for Suburban Propane Partners (NYSE:SPH)

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