SPH has been the subject of a number of other reports. UBS Group reiterated a neutral rating and set a $27.00 price target (down from $29.00) on shares of Suburban Propane Partners in a report on Friday, March 2nd. Raymond James Financial upgraded shares of Suburban Propane Partners from a market perform rating to an outperform rating and set a $28.00 price target for the company in a report on Friday, February 9th. Finally, Zacks Investment Research upgraded shares of Suburban Propane Partners from a sell rating to a hold rating in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $27.20.
Shares of Suburban Propane Partners (NYSE SPH) opened at $23.78 on Friday. Suburban Propane Partners has a 12 month low of $22.71 and a 12 month high of $27.44. The stock has a market cap of $1,448.89, a price-to-earnings ratio of 36.58, a PEG ratio of 3.82 and a beta of 0.65. The company has a quick ratio of 0.77, a current ratio of 1.05 and a debt-to-equity ratio of 2.37.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $2.40 dividend on an annualized basis and a yield of 10.09%. Suburban Propane Partners’s dividend payout ratio is currently 369.23%.
In related news, insider Keith P. Onderdonk sold 4,500 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $23.33, for a total transaction of $104,985.00. Following the completion of the sale, the insider now directly owns 28,665 shares in the company, valued at approximately $668,754.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harold R. Logan, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $24.33, for a total transaction of $97,320.00. Following the sale, the director now owns 21,641 shares of the company’s stock, valued at $526,525.53. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock valued at $225,905 over the last quarter. 0.64% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Abrams Capital Management L.P. raised its holdings in Suburban Propane Partners by 120.9% in the 4th quarter. Abrams Capital Management L.P. now owns 1,507,540 shares of the energy company’s stock worth $36,513,000 after purchasing an additional 825,126 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Suburban Propane Partners by 42.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,060,051 shares of the energy company’s stock worth $27,455,000 after purchasing an additional 314,973 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Suburban Propane Partners by 2.3% in the 4th quarter. Clearbridge Investments LLC now owns 723,827 shares of the energy company’s stock worth $17,531,000 after purchasing an additional 16,000 shares in the last quarter. ING Groep NV raised its holdings in Suburban Propane Partners by 300.2% in the 3rd quarter. ING Groep NV now owns 430,602 shares of the energy company’s stock worth $11,234,000 after purchasing an additional 323,000 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Suburban Propane Partners by 37.6% in the 4th quarter. Bank of Montreal Can now owns 290,255 shares of the energy company’s stock worth $7,030,000 after purchasing an additional 79,345 shares in the last quarter. Institutional investors and hedge funds own 28.28% of the company’s stock.
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About Suburban Propane Partners
Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.
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