Bank of Montreal Can Increases Position in Suburban Propane Partners LP (SPH)

Bank of Montreal Can boosted its position in Suburban Propane Partners LP (NYSE:SPH) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 332,710 shares of the energy company’s stock after acquiring an additional 8,573 shares during the period. Bank of Montreal Can owned 0.54% of Suburban Propane Partners worth $7,829,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Centaurus Financial Inc. bought a new stake in Suburban Propane Partners in the 2nd quarter valued at about $148,000. BNP Paribas Arbitrage SA raised its stake in Suburban Propane Partners by 402.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,980 shares of the energy company’s stock valued at $154,000 after acquiring an additional 5,590 shares during the period. GSA Capital Partners LLP bought a new stake in Suburban Propane Partners in the 1st quarter valued at about $210,000. Trust Co. of Vermont raised its stake in Suburban Propane Partners by 800.0% in the 2nd quarter. Trust Co. of Vermont now owns 9,000 shares of the energy company’s stock valued at $211,000 after acquiring an additional 8,000 shares during the period. Finally, Private Advisor Group LLC raised its stake in Suburban Propane Partners by 43.0% in the 2nd quarter. Private Advisor Group LLC now owns 17,858 shares of the energy company’s stock valued at $420,000 after acquiring an additional 5,370 shares during the period. Institutional investors and hedge funds own 29.45% of the company’s stock.

SPH stock opened at $23.43 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 2.18. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 3.81 and a beta of 0.56. Suburban Propane Partners LP has a twelve month low of $21.85 and a twelve month high of $27.05.



Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, August 9th. The energy company reported ($0.27) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.20. The business had revenue of $241.90 million during the quarter, compared to analyst estimates of $253.17 million. Suburban Propane Partners had a return on equity of 13.26% and a net margin of 5.69%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.48) EPS. Sell-side analysts expect that Suburban Propane Partners LP will post 1.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Tuesday, November 6th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 10.24%. The ex-dividend date is Monday, November 5th. Suburban Propane Partners’s payout ratio is presently 342.86%.

SPH has been the topic of a number of research reports. Zacks Investment Research upgraded Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, October 24th. ValuEngine upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Suburban Propane Partners presently has a consensus rating of “Hold” and an average price target of $26.75.

In other Suburban Propane Partners news, insider Douglas Brinkworth sold 8,000 shares of Suburban Propane Partners stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $24.32, for a total transaction of $194,560.00. Following the completion of the transaction, the insider now owns 72,437 shares of the company’s stock, valued at approximately $1,761,667.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane Swift sold 1,500 shares of Suburban Propane Partners stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $23.67, for a total value of $35,505.00. Following the transaction, the director now directly owns 13,581 shares of the company’s stock, valued at approximately $321,462.27. The disclosure for this sale can be found here. Insiders have sold a total of 16,750 shares of company stock valued at $404,790 in the last ninety days. Insiders own 0.64% 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, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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Institutional Ownership by Quarter for Suburban Propane Partners (NYSE:SPH)

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