Suburban Propane Partners, L.P. (NYSE:SPH) VP Sells $49,616.00 in Stock

Suburban Propane Partners, L.P. (NYSE:SPH) VP Craig Palleschi sold 2,800 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total value of $49,616.00. Following the completion of the sale, the vice president now owns 21,898 shares of the company’s stock, valued at approximately $388,032.56. This trade represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Suburban Propane Partners Stock Down 0.9 %

NYSE SPH traded down $0.17 during trading hours on Wednesday, hitting $17.83. 197,897 shares of the company traded hands, compared to its average volume of 222,428. The business’s 50-day moving average is $18.24 and its 200-day moving average is $18.55. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.79 and a beta of 0.43. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.33.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date of this dividend was Tuesday, November 5th. Suburban Propane Partners’s dividend payout ratio is currently 114.04%.

Institutional Investors Weigh In On Suburban Propane Partners

A number of large investors have recently added to or reduced their stakes in SPH. CWM LLC increased its position in Suburban Propane Partners by 52.1% during the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock worth $41,000 after purchasing an additional 734 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Suburban Propane Partners in the second quarter valued at about $193,000. Oppenheimer & Co. Inc. raised its position in shares of Suburban Propane Partners by 7.9% during the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after acquiring an additional 800 shares during the last quarter. Biechele Royce Advisors bought a new position in Suburban Propane Partners during the second quarter worth $211,000. Finally, LRI Investments LLC acquired a new position in shares of Suburban Propane Partners in the 1st quarter valued at about $255,000. Institutional investors and hedge funds own 30.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SPH shares. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. 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 report on Friday, August 30th.

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.