Suburban Propane Partners, L.P. (NYSE:SPH) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Suburban Propane Partners, L.P. (NYSE:SPH) by 31.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 643,916 shares of the energy company’s stock after acquiring an additional 155,360 shares during the period. JPMorgan Chase & Co. owned approximately 1.00% of Suburban Propane Partners worth $11,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new stake in Suburban Propane Partners in the second quarter valued at about $193,000. Oppenheimer & Co. Inc. grew its position in Suburban Propane Partners by 7.9% during the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after buying an additional 800 shares during the period. Captrust Financial Advisors purchased a new position in Suburban Propane Partners in the third quarter valued at about $270,000. Greenup Street Wealth Management LLC lifted its position in shares of Suburban Propane Partners by 8.1% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock valued at $402,000 after acquiring an additional 1,675 shares during the period. Finally, Simplicity Wealth LLC boosted its stake in shares of Suburban Propane Partners by 4.2% during the 3rd quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock worth $412,000 after acquiring an additional 936 shares in the last quarter. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Insider Activity

In other news, VP A Davin Dambrosio sold 6,500 shares of Suburban Propane Partners stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total value of $122,850.00. Following the transaction, the vice president now directly owns 76,176 shares of the company’s stock, valued at $1,439,726.40. The trade was a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Craig Palleschi sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total transaction of $49,616.00. Following the sale, the vice president now owns 21,898 shares of the company’s stock, valued at approximately $388,032.56. This represents a 11.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Suburban Propane Partners Stock Performance

SPH opened at $18.08 on Monday. The stock has a market cap of $1.17 billion, a P/E ratio of 15.86 and a beta of 0.48. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.51 and a quick ratio of 0.33. Suburban Propane Partners, L.P. has a 1-year low of $15.20 and a 1-year high of $21.55. The stock’s 50 day simple moving average is $18.26 and its 200 day simple moving average is $18.20.

Suburban Propane Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 7.19%. The ex-dividend date was Tuesday, November 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 114.04%.

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.