Suburban Propane Partners, L.P. (NYSE:SPH) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,193 shares of the energy company’s stock after selling 7,631 shares during the period. Commonwealth Equity Services LLC’s holdings in Suburban Propane Partners were worth $3,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. UBS Group AG grew its stake in shares of Suburban Propane Partners by 428.9% in the 4th quarter. UBS Group AG now owns 390,200 shares of the energy company’s stock valued at $6,930,000 after buying an additional 316,430 shares during the period. Blackstone Inc. boosted its position in shares of Suburban Propane Partners by 27.1% during the 4th quarter. Blackstone Inc. now owns 328,281 shares of the energy company’s stock worth $5,830,000 after purchasing an additional 70,000 shares during the period. Fractal Investments LLC boosted its position in shares of Suburban Propane Partners by 1,090.4% during the 4th quarter. Fractal Investments LLC now owns 207,425 shares of the energy company’s stock worth $3,684,000 after purchasing an additional 190,000 shares during the period. Custom Index Systems LLC purchased a new position in shares of Suburban Propane Partners during the 4th quarter worth approximately $1,679,000. Finally, Private Advisor Group LLC boosted its position in shares of 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 worth $970,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

Suburban Propane Partners stock traded down $0.07 during midday trading on Friday, hitting $19.15. 26,469 shares of the company’s stock were exchanged, compared to its average volume of 262,094. Suburban Propane Partners, L.P. has a 12-month low of $14.42 and a 12-month high of $22.33. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.65 and a current ratio of 0.88. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 11.37 and a beta of 0.44. The firm’s 50 day simple moving average is $19.52 and its 200 day simple moving average is $19.50.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, May 9th. The energy company reported $1.72 earnings per share for the quarter. The business 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date of this dividend was Monday, May 6th. Suburban Propane Partners’s dividend payout ratio is currently 76.92%.

Wall Street Analysts Forecast Growth

SPH has been the topic of a number of research reports. StockNews.com upgraded shares of Suburban Propane Partners from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Argus increased their target price on shares of Suburban Propane Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, June 10th.

Insider Buying and Selling

In related news, Director Harold R. Logan, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $19.18, for a total transaction of $57,540.00. Following the sale, the director now owns 39,515 shares of the company’s stock, valued at $757,897.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.

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.