Suburban Propane Partners (NYSE:SPH) Shares Gap Down Following Weak Earnings

Suburban Propane Partners, L.P. (NYSE:SPH)’s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $21.64, but opened at $20.22. Suburban Propane Partners shares last traded at $20.58, with a volume of 21,343 shares trading hands.

The energy company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 12.64% and a net margin of 5.59%. During the same quarter in the prior year, the company posted $0.38 earnings per share.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be given a $0.325 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $1.30 annualized dividend and a dividend yield of 6.27%. Suburban Propane Partners’s payout ratio is 114.04%.

Insider Buying and Selling

In other news, VP Craig Palleschi sold 2,800 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total transaction of $49,616.00. Following the completion of the transaction, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. This represents a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the vice president now directly owns 76,176 shares in the company, valued at approximately $1,439,726.40. This trade represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SPH. JPMorgan Chase & Co. boosted its position in shares of Suburban Propane Partners by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock worth $11,552,000 after buying an additional 155,360 shares during the period. Oppenheimer & Co. Inc. raised its stake in Suburban Propane Partners by 7.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock valued at $197,000 after acquiring an additional 800 shares in the last quarter. Captrust Financial Advisors acquired a new position in Suburban Propane Partners during the 3rd quarter worth $270,000. Simplicity Wealth LLC grew its stake in shares of Suburban Propane Partners by 4.2% in the third quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock worth $412,000 after purchasing an additional 936 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Suburban Propane Partners during the second quarter valued at $193,000. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Trading Down 4.3 %

The firm has a market capitalization of $1.34 billion, a P/E ratio of 18.17 and a beta of 0.51. The business’s 50 day moving average is $18.86 and its two-hundred day moving average is $18.36. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 2.21.

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.