Harold R. Logan, Jr. Sells 2,500 Shares of Suburban Propane Partners, L.P. (NYSE:SPH) Stock

Suburban Propane Partners, L.P. (NYSE:SPH) Director Harold R. Logan, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.37, for a total value of $43,425.00. Following the completion of the sale, the director now directly owns 37,015 shares in the company, valued at approximately $642,950.55. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock opened at $17.83 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. The firm has a market cap of $1.14 billion, a P/E ratio of 10.55 and a beta of 0.44. The business’s fifty day moving average is $18.04 and its two-hundred day moving average is $19.24. Suburban Propane Partners, L.P. has a 52 week low of $14.57 and a 52 week high of $22.33.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 8th. The energy company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). The business 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%.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend was Tuesday, August 6th. Suburban Propane Partners’s dividend payout ratio is currently 76.92%.

Hedge Funds Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG lifted its stake in shares of Suburban Propane Partners by 428.9% during the fourth quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock valued at $6,930,000 after acquiring an additional 316,430 shares during the period. Blackstone Inc. lifted its stake in shares of Suburban Propane Partners by 27.1% during the fourth quarter. Blackstone Inc. now owns 328,281 shares of the energy company’s stock valued at $5,830,000 after acquiring an additional 70,000 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Suburban Propane Partners by 33.7% during the second quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock valued at $3,787,000 after acquiring an additional 50,212 shares during the period. Foundry Partners LLC lifted its stake in shares of Suburban Propane Partners by 11.9% during the first quarter. Foundry Partners LLC now owns 210,111 shares of the energy company’s stock valued at $4,293,000 after acquiring an additional 22,368 shares during the period. Finally, Simplicity Wealth LLC acquired a new position in shares of Suburban Propane Partners during the second quarter valued at $418,000. Institutional investors and hedge funds own 30.94% of the company’s stock.

Analyst Upgrades and Downgrades

SPH has been the topic of several recent analyst reports. Wells Fargo & Company lowered Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research note on Friday, August 30th. Argus boosted their price target on Suburban Propane Partners from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, StockNews.com lowered Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.67.

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.