Suburban Propane Partners, L.P. (NYSE:SPH) VP Craig Palleschi Sells 2,800 Shares of Stock

Suburban Propane Partners, L.P. (NYSE:SPH) 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 value 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 trade represents a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Suburban Propane Partners Stock Down 0.9 %

Suburban Propane Partners stock opened at $17.83 on Thursday. The stock’s fifty day simple moving average is $18.24 and its 200-day simple moving average is $18.55. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.98. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.33. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.64 and a beta of 0.43.

Suburban Propane Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.30 annualized dividend and a dividend yield of 7.29%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 114.04%.

Hedge Funds Weigh In On Suburban Propane Partners

Several hedge funds have recently added to or reduced their stakes in SPH. Blackstone Inc. grew its position in shares of Suburban Propane Partners by 3.0% during the first quarter. Blackstone Inc. now owns 338,281 shares of the energy company’s stock worth $6,911,000 after acquiring an additional 10,000 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Suburban Propane Partners by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock worth $4,201,000 after purchasing an additional 11,136 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Suburban Propane Partners by 33.7% in 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 period. Private Advisor Group LLC increased its position in Suburban Propane Partners by 4.4% during the second 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, Janney Montgomery Scott LLC increased its stake in Suburban Propane Partners by 3.8% during the third quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock worth $898,000 after acquiring an additional 1,818 shares during the last quarter. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPH. Wells Fargo & Company cut shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 target price for the company. in a research report on Friday, August 30th. StockNews.com cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th.

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.