Suburban Propane Partners, L.P. (NYSE:SPH) Declares $0.33 Quarterly Dividend

Suburban Propane Partners, L.P. (NYSE:SPH) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.325 per share by the energy company on Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 7.03%. The ex-dividend date is Tuesday, November 5th.

Suburban Propane Partners has decreased its dividend payment by an average of 10.3% annually over the last three years. Suburban Propane Partners has a payout ratio of 59.1% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Down 1.9 %

SPH stock opened at $18.49 on Friday. Suburban Propane Partners has a 52 week low of $15.20 and a 52 week high of $22.33. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98. The firm has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $18.70. The stock has a market capitalization of $1.18 billion, a P/E ratio of 10.94 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 8th. The energy company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%. The firm had revenue of $254.61 million during the quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company cut 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. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.67.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.37, for a total transaction of $43,425.00. Following the transaction, the director now owns 37,015 shares of the company’s stock, valued at approximately $642,950.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

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.