Raymond James Financial Inc. Takes $3.47 Million Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Raymond James Financial Inc. purchased a new position in Suburban Propane Partners, L.P. (NYSE:SPH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 202,006 shares of the energy company’s stock, valued at approximately $3,474,000. Raymond James Financial Inc. owned 0.31% of Suburban Propane Partners at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SPH. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Suburban Propane Partners during the fourth quarter worth $24,340,000. JPMorgan Chase & Co. lifted its stake in Suburban Propane Partners by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock worth $11,552,000 after purchasing an additional 155,360 shares in the last quarter. Levin Capital Strategies L.P. boosted its holdings in shares of Suburban Propane Partners by 10.3% during the 4th quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock valued at $3,340,000 after purchasing an additional 18,196 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Suburban Propane Partners by 3.8% during the fourth quarter. Private Advisor Group LLC now owns 67,253 shares of the energy company’s stock valued at $1,157,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Wealthstar Advisors LLC bought a new stake in shares of Suburban Propane Partners in the fourth quarter worth about $554,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Douglas Brinkworth sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $20.50, for a total value of $41,000.00. Following the completion of the sale, the senior vice president now directly owns 159,355 shares of the company’s stock, valued at $3,266,777.50. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Schueler sold 7,746 shares of Suburban Propane Partners stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $20.93, for a total value of $162,123.78. Following the completion of the transaction, the vice president now owns 11,133 shares of the company’s stock, valued at approximately $233,013.69. This trade represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Suburban Propane Partners Price Performance

NYSE:SPH opened at $21.19 on Friday. The business’s 50-day moving average is $20.78 and its 200 day moving average is $19.13. Suburban Propane Partners, L.P. has a 12 month low of $15.20 and a 12 month high of $22.24. The company has a market capitalization of $1.37 billion, a P/E ratio of 19.99 and a beta of 0.46. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 2.39.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, February 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 11.81% and a net margin of 5.18%. During the same period in the previous year, the firm earned $0.38 EPS.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.30 annualized dividend and a yield of 6.14%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 122.64%.

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.