Suburban Propane Partners (NYSE:SPH) Shares Gap Up Following Dividend Announcement

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $19.10, but opened at $19.84. Suburban Propane Partners shares last traded at $19.41, with a volume of 60,937 shares changing hands.

The newly announced dividend which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.77%. Suburban Propane Partners’s dividend payout ratio (DPR) is 114.04%.

Suburban Propane Partners Stock Performance

The firm’s 50 day moving average price is $18.36 and its two-hundred day moving average price is $18.22. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.33 and a current ratio of 0.51. The firm has a market cap of $1.24 billion, a PE ratio of 16.84 and a beta of 0.48.

Insider Transactions at Suburban Propane Partners

In other news, VP A Davin Dambrosio sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 in the company, valued at approximately $1,439,726.40. This represents a 7.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Craig Palleschi sold 2,800 shares of the 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 in the company, valued at approximately $388,032.56. This trade 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.

Institutional Investors Weigh In On Suburban Propane Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Trust Company N.A purchased a new position in shares of Suburban Propane Partners in the 4th quarter valued at $28,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Suburban Propane Partners in the 2nd quarter valued at $193,000. Oppenheimer & Co. Inc. grew its position in shares of Suburban Propane Partners by 7.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock valued at $197,000 after buying an additional 800 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Suburban Propane Partners in the 3rd quarter valued at $270,000. Finally, Greenup Street Wealth Management LLC grew its position in shares of Suburban Propane Partners by 8.1% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock valued at $402,000 after buying an additional 1,675 shares during the last quarter. 30.94% of the stock is currently owned by institutional investors and hedge funds.

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.