Key Points
- Suburban Propane Partners VP Bryon Koepke sold 2,848 shares at an average price of $17.65, generating approximately $50,267. After the sale, he retained 100,714 shares valued at about $1.78 million.
- SPH reported quarterly revenue of $261.38 million, exceeding estimates, but its adjusted earnings loss of $0.26 per share fell short of the expected $0.15 loss.
- The company maintains a quarterly dividend of $0.325 per share, equivalent to a $1.30 annualized payout and a 7.4% yield. Analysts’ overall consensus rating remains “Buy,” despite some recent rating downgrades.
Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) VP Bryon Koepke sold 2,848 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $17.65, for a total transaction of $50,267.20. Following the completion of the sale, the vice president directly owned 100,714 shares in the company, valued at $1,777,602.10. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Suburban Propane Partners Price Performance
Shares of NYSE:SPH opened at $17.61 on Wednesday. The firm has a market capitalization of $1.17 billion, a PE ratio of 8.98 and a beta of 0.41. The business has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $19.04. Suburban Propane Partners, L.P. has a 1 year low of $16.53 and a 1 year high of $20.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.78 and a quick ratio of 0.52.
Suburban Propane Partners (NYSE:SPH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.11). Suburban Propane Partners had a return on equity of 18.57% and a net margin of 9.37%.The business had revenue of $261.38 million during the quarter, compared to analysts' expectations of $255.00 million. On average, equities analysts predict that Suburban Propane Partners, L.P. will post 2.05 EPS for the current year.
Suburban Propane Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, August 4th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Tuesday, August 4th. Suburban Propane Partners's payout ratio is presently 66.33%.
Wall Street Analysts Forecast Growth
SPH has been the topic of several recent research reports. Zacks Research upgraded shares of Suburban Propane Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Weiss Ratings lowered shares of Suburban Propane Partners from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Suburban Propane Partners from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Suburban Propane Partners presently has a consensus rating of "Buy".
View Our Latest Stock Report on Suburban Propane Partners
Institutional Investors Weigh In On Suburban Propane Partners
A number of institutional investors have recently added to or reduced their stakes in SPH. Compass Financial Management LLC purchased a new position in Suburban Propane Partners in the second quarter valued at about $29,000. Truvestments Capital LLC purchased a new stake in shares of Suburban Propane Partners during the fourth quarter valued at about $37,000. Triumph Capital Management bought a new stake in shares of Suburban Propane Partners in the 3rd quarter valued at about $50,000. Advisory Services Network LLC purchased a new position in shares of Suburban Propane Partners in the 3rd quarter worth approximately $62,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Suburban Propane Partners by 669.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 4,671 shares of the energy company's stock worth $87,000 after buying an additional 4,064 shares during the last quarter. Institutional investors own 30.94% of the company's stock.
About Suburban Propane Partners
(
Get Free Report)
Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers' energy needs.
The company's core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
