Independence Bank of Kentucky Makes New $52,000 Investment in Suburban Propane Partners, L.P. (NYSE:SPH)

Independence Bank of Kentucky purchased a new stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,000 shares of the energy company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cetera Trust Company N.A bought a new stake in Suburban Propane Partners during the 4th quarter valued at $28,000. JPMorgan Chase & Co. lifted its stake in Suburban Propane Partners by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock worth $11,552,000 after acquiring an additional 155,360 shares during the period. Captrust Financial Advisors bought a new position in Suburban Propane Partners during the 3rd quarter worth about $270,000. Oppenheimer & Co. Inc. grew its holdings in Suburban Propane Partners by 7.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after acquiring an additional 800 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Suburban Propane Partners by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock valued at $898,000 after purchasing an additional 1,818 shares during the period. Institutional investors own 30.94% of the company’s stock.

Insider Activity

In related news, VP A Davin Dambrosio sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $18.90, for a total transaction of $122,850.00. Following the completion of the transaction, the vice president now owns 76,176 shares in the company, valued at $1,439,726.40. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Craig Palleschi sold 2,800 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total transaction of $49,616.00. Following the sale, the vice president now directly owns 21,898 shares of the company’s stock, valued at $388,032.56. The trade was a 11.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Suburban Propane Partners Price Performance

Shares of SPH opened at $21.19 on Monday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.33 and a current ratio of 0.51. The company has a 50 day moving average price of $18.67 and a 200-day moving average price of $18.28. Suburban Propane Partners, L.P. has a fifty-two week low of $15.20 and a fifty-two week high of $21.55. The stock has a market capitalization of $1.37 billion, a PE ratio of 18.59 and a beta of 0.48.

Suburban Propane Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.30 annualized dividend and a yield of 6.14%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 114.04%.

Suburban Propane Partners Company Profile

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.