Suburban Propane Partners, L.P. (NYSE:SPH) VP Craig Palleschi Sells 2,800 Shares

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 transaction of $49,616.00. Following the completion of the transaction, the vice president now directly owns 21,898 shares in the company, valued at $388,032.56. This trade represents a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Suburban Propane Partners Stock Performance

Shares of SPH stock traded down $0.17 on Wednesday, hitting $17.83. 197,897 shares of the stock were exchanged, compared to its average volume of 222,428. Suburban Propane Partners, L.P. has a one year low of $15.20 and a one year high of $22.33. The firm’s 50 day moving average is $18.24 and its two-hundred day moving average is $18.55. The firm has a market capitalization of $1.14 billion, a PE ratio of 15.79 and a beta of 0.43. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.98.

Suburban Propane Partners Dividend Announcement

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

Wall Street Analyst Weigh In

SPH has been the subject of several analyst reports. StockNews.com lowered shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Wells Fargo & Company downgraded Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target for the company. in a research report on Friday, August 30th.

Institutional Trading of Suburban Propane Partners

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its position in Suburban Propane Partners by 33.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock worth $3,787,000 after acquiring an additional 50,212 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Suburban Propane Partners in the second quarter worth approximately $418,000. Captrust Financial Advisors purchased a new position in shares of Suburban Propane Partners in the third quarter worth $270,000. LRI Investments LLC purchased a new position in shares of Suburban Propane Partners in the first quarter worth $255,000. Finally, Foundry Partners LLC raised its holdings in Suburban Propane Partners by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock valued at $4,201,000 after buying an additional 11,136 shares during the last quarter. 30.94% of the stock is owned by institutional investors.

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.