Suburban Propane Partners, L.P. (SPH) To Go Ex-Dividend on November 5th

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.325 per share by the energy company on Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date is Tuesday, November 5th.

Suburban Propane Partners has decreased its dividend payment by an average of 10.3% per year over the last three years. Suburban Propane Partners has a payout ratio of 59.1% indicating that its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Down 1.9 %

SPH stock opened at $18.49 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98. Suburban Propane Partners has a 52 week low of $15.20 and a 52 week high of $22.33. The stock has a market capitalization of $1.18 billion, a PE ratio of 10.94 and a beta of 0.44. The firm has a 50 day moving average of $18.01 and a 200 day moving average of $18.70.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). The firm had revenue of $254.61 million during the quarter. Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target for the company. in a research report on Friday, August 30th. StockNews.com lowered shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Suburban Propane Partners has a consensus rating of “Hold” and a consensus target price of $19.67.

Insiders Place Their Bets

In other news, Director Harold R. Logan, Jr. sold 2,500 shares of Suburban Propane Partners stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.37, for a total transaction of $43,425.00. Following the completion of the transaction, the director now directly owns 37,015 shares of the company’s stock, valued at $642,950.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% 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.