Janney Montgomery Scott LLC Has $898,000 Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Janney Montgomery Scott LLC increased its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,029 shares of the energy company’s stock after buying an additional 1,818 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Suburban Propane Partners worth $898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new position in shares of Suburban Propane Partners during the 1st quarter worth about $295,000. Commonwealth Equity Services LLC boosted its position in Suburban Propane Partners by 33.7% during the second quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock valued at $3,787,000 after purchasing an additional 50,212 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Suburban Propane Partners by 28.6% in the first quarter. Avantax Advisory Services Inc. now owns 22,995 shares of the energy company’s stock valued at $470,000 after purchasing an additional 5,113 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Suburban Propane Partners by 4.4% during the 2nd quarter. Private Advisor Group LLC now owns 64,281 shares of the energy company’s stock worth $1,221,000 after purchasing an additional 2,732 shares during the last quarter. Finally, CWM LLC raised its stake 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 worth $41,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

Shares of NYSE SPH opened at $17.59 on Friday. Suburban Propane Partners, L.P. has a 12 month low of $15.20 and a 12 month high of $22.33. The stock has a 50 day moving average of $18.23 and a 200-day moving average of $18.59. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $1.13 billion, a P/E ratio of 11.73 and a beta of 0.43.

Suburban Propane Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 7.39%. The ex-dividend date was Tuesday, November 5th. Suburban Propane Partners’s payout ratio is 86.67%.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,500 shares of the 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 in the company, valued at $642,950.55. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on SPH. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lowered 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 research note on Friday, August 30th.

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.