HighTower Advisors LLC Has $789,000 Stock Position in Suburban Propane Partners, L.P. (NYSE:SPH)

HighTower Advisors LLC grew its stake in Suburban Propane Partners, L.P. (NYSE:SPH) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,401 shares of the energy company’s stock after purchasing an additional 4,571 shares during the quarter. HighTower Advisors LLC’s holdings in Suburban Propane Partners were worth $789,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Suburban Propane Partners by 4.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 30,758 shares of the energy company’s stock worth $472,000 after buying an additional 1,200 shares during the period. Cowen Prime Advisors LLC acquired a new stake in Suburban Propane Partners during the 2nd quarter worth $77,000. Advisor Group Holdings Inc. raised its stake in Suburban Propane Partners by 43.5% during the 2nd quarter. Advisor Group Holdings Inc. now owns 39,599 shares of the energy company’s stock worth $607,000 after buying an additional 12,011 shares during the period. Novare Capital Management LLC raised its stake in Suburban Propane Partners by 1.6% during the 2nd quarter. Novare Capital Management LLC now owns 62,700 shares of the energy company’s stock worth $962,000 after buying an additional 1,000 shares during the period. Finally, Aspire Private Capital LLC raised its stake in Suburban Propane Partners by 96.8% during the 1st quarter. Aspire Private Capital LLC now owns 2,198 shares of the energy company’s stock worth $33,000 after buying an additional 1,081 shares during the period. 25.13% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, August 11th.

SPH stock opened at $15.10 on Tuesday. The stock has a 50-day moving average price of $15.46 and a two-hundred day moving average price of $15.20. The stock has a market cap of $944.32 million, a PE ratio of 9.68 and a beta of 0.65. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 2.51. Suburban Propane Partners, L.P. has a 1 year low of $13.64 and a 1 year high of $18.18.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, August 5th. The energy company reported ($0.41) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.41). The firm had revenue of $238.09 million during the quarter, compared to analysts’ expectations of $232.45 million. Suburban Propane Partners had a return on equity of 23.13% and a net margin of 7.86%. On average, analysts forecast that Suburban Propane Partners, L.P. will post 1.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 10th. Shareholders of record on Tuesday, August 3rd were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date of this dividend was Monday, August 2nd. This is a boost from Suburban Propane Partners’s previous quarterly dividend of $0.30. Suburban Propane Partners’s dividend payout ratio is 134.02%.

Suburban Propane Partners Profile

Suburban Propane Partners LP engages in the business of liquefied petroleum gas business. It operates through the following business segments: Propane; Fuel Oil and Refined Fuels; Natural Gas and Electricity; and All Other. The Propane segment engages in natural gas processing and petroleum refining.

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

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