Commonwealth Equity Services LLC Trims Holdings in Suburban Propane Partners, L.P. (NYSE:SPH)

Commonwealth Equity Services LLC cut its holdings in Suburban Propane Partners, L.P. (NYSE:SPH) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,193 shares of the energy company’s stock after selling 7,631 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.23% of Suburban Propane Partners worth $3,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Virtu Financial LLC grew its position in shares of Suburban Propane Partners by 132.1% in the 4th quarter. Virtu Financial LLC now owns 34,196 shares of the energy company’s stock worth $607,000 after buying an additional 19,461 shares during the period. Blackstone Inc. grew its position in Suburban Propane Partners by 27.1% during the 4th quarter. Blackstone Inc. now owns 328,281 shares of the energy company’s stock valued at $5,830,000 after purchasing an additional 70,000 shares during the last quarter. UBS Group AG grew its position in Suburban Propane Partners by 428.9% during the 4th quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock valued at $6,930,000 after purchasing an additional 316,430 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in Suburban Propane Partners during the 4th quarter valued at about $318,000. Finally, Private Advisor Group LLC grew its position in Suburban Propane Partners by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock valued at $970,000 after purchasing an additional 1,200 shares during the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Suburban Propane Partners

In other news, Director Harold R. Logan, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $19.18, for a total value of $57,540.00. Following the transaction, the director now owns 39,515 shares in the company, valued at approximately $757,897.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Suburban Propane Partners Stock Performance

Shares of NYSE SPH traded down $0.07 during trading on Friday, reaching $19.15. 26,469 shares of the company traded hands, compared to its average volume of 262,094. The firm has a 50 day simple moving average of $19.52 and a 200-day simple moving average of $19.50. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $1.23 billion, a PE ratio of 11.37 and a beta of 0.44. Suburban Propane Partners, L.P. has a 52-week low of $14.42 and a 52-week high of $22.33.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, May 9th. The energy company reported $1.72 earnings per share (EPS) for the quarter. The firm had revenue of $498.09 million for the quarter. Suburban Propane Partners had a net margin of 8.02% and a return on equity of 18.91%.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend was Monday, May 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 76.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPH. StockNews.com raised shares of Suburban Propane Partners from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Argus increased their price objective on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, June 10th.

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.