A Davin Dambrosio Sells 6,500 Shares of Suburban Propane Partners, L.P. (NYSE:SPH) Stock

Suburban Propane Partners, L.P. (NYSE:SPH) VP A Davin Dambrosio sold 6,500 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total transaction of $122,850.00. Following the completion of the transaction, the vice president now owns 76,176 shares of the company’s stock, valued at approximately $1,439,726.40. The trade was a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Suburban Propane Partners Stock Performance

Shares of Suburban Propane Partners stock opened at $19.35 on Friday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 16.97 and a beta of 0.43. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.65 and a quick ratio of 0.45. Suburban Propane Partners, L.P. has a 1 year low of $15.20 and a 1 year high of $22.33. The firm’s 50-day moving average is $18.34 and its 200 day moving average is $18.52.

Suburban Propane Partners Announces Dividend

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 dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend was Tuesday, November 5th. Suburban Propane Partners’s payout ratio is 114.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPH. Wells Fargo & Company cut shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a report on Friday, August 30th. StockNews.com downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Hedge Funds Weigh In On Suburban Propane Partners

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Suburban Propane Partners by 52.1% during the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after acquiring an additional 734 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Suburban Propane Partners in the second quarter worth approximately $193,000. Oppenheimer & Co. Inc. grew its position in Suburban Propane Partners by 7.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after purchasing an additional 800 shares during the period. Biechele Royce Advisors purchased a new stake in Suburban Propane Partners during the 2nd quarter valued at $211,000. Finally, LRI Investments LLC bought a new position in shares of Suburban Propane Partners during the 1st quarter valued at $255,000. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

Suburban Propane Partners Company Profile

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.