PNC Financial Services Group Inc. increased its holdings in Suburban Propane Partners, L.P. (NYSE:SPH – Free Report) by 52.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,058 shares of the energy company’s stock after purchasing an additional 18,969 shares during the period. PNC Financial Services Group Inc. owned approximately 0.09% of Suburban Propane Partners worth $884,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its position in Suburban Propane Partners by 104,015.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 66,827,339 shares of the energy company’s stock worth $1,014,439,000 after buying an additional 66,763,153 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Suburban Propane Partners during the fourth quarter worth $20,323,000. Mirae Asset Global Investments Co. Ltd. increased its position in Suburban Propane Partners by 4.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 747,069 shares of the energy company’s stock worth $11,990,000 after buying an additional 30,062 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Suburban Propane Partners by 70.5% during the second quarter. Goldman Sachs Group Inc. now owns 591,483 shares of the energy company’s stock worth $9,026,000 after buying an additional 244,537 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Suburban Propane Partners by 5.7% during the second quarter. Clearbridge Investments LLC now owns 576,018 shares of the energy company’s stock worth $8,525,000 after buying an additional 31,119 shares during the last quarter. 17.49% of the stock is owned by institutional investors and hedge funds.
Suburban Propane Partners Stock Up 0.5 %
SPH stock opened at $20.78 on Monday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.72 and a quick ratio of 0.52. Suburban Propane Partners, L.P. has a 52-week low of $14.42 and a 52-week high of $22.33. The company has a 50-day moving average of $18.78 and a two-hundred day moving average of $16.96. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 13.07 and a beta of 0.42.
Suburban Propane Partners Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Monday, February 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is 81.76%.
Insider Buying and Selling at Suburban Propane Partners
In related news, VP Samuel Hodges sold 4,538 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $17.04, for a total value of $77,327.52. Following the completion of the sale, the vice president now owns 36,670 shares in the company, valued at $624,856.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Neil Scanlon sold 26,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.33, for a total value of $502,580.00. Following the completion of the sale, the senior vice president now owns 162,129 shares in the company, valued at $3,133,953.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Samuel Hodges sold 4,538 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $17.04, for a total transaction of $77,327.52. Following the completion of the sale, the vice president now owns 36,670 shares of the company’s stock, valued at approximately $624,856.80. The disclosure for this sale can be found here. Insiders sold 94,538 shares of company stock worth $1,685,858 over the last ninety days. Company insiders own 1.30% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Mizuho cut shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and upped their price target for the company from $16.00 to $17.00 in a report on Monday, January 29th.
View Our Latest Stock Analysis on Suburban Propane Partners
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.
Further Reading
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Source: americanbankingnews.com
