PNC Financial Services Group Inc. trimmed its stake in Suburban Propane Partners, L.P. (NYSE:SPH – Free Report) by 66.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,535 shares of the energy company’s stock after selling 36,523 shares during the period. PNC Financial Services Group Inc.’s holdings in Suburban Propane Partners were worth $329,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc increased its stake in shares of Suburban Propane Partners by 16.5% in the 4th quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock worth $74,000 after purchasing an additional 591 shares in the last quarter. Spirit of America Management Corp NY bought a new position in Suburban Propane Partners in the 4th quarter worth $178,000. Avantax Advisory Services Inc. bought a new position in Suburban Propane Partners in the 4th quarter worth $318,000. Jump Financial LLC bought a new position in Suburban Propane Partners in the 3rd quarter worth $331,000. Finally, Koshinski Asset Management Inc. boosted its holdings in Suburban Propane Partners by 100.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 22,000 shares of the energy company’s stock worth $391,000 after buying an additional 11,000 shares during the period. 30.94% of the stock is currently owned by hedge funds and other institutional investors.
Suburban Propane Partners Trading Up 0.7 %
Shares of Suburban Propane Partners stock opened at $20.39 on Wednesday. The company has a market capitalization of $1.31 billion, a P/E ratio of 11.77 and a beta of 0.46. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.65 and a current ratio of 0.88. The company has a fifty day moving average of $19.70 and a 200 day moving average of $19.12. Suburban Propane Partners, L.P. has a fifty-two week low of $14.42 and a fifty-two week high of $22.33.
Suburban Propane Partners (NYSE:SPH – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The energy company reported $1.72 EPS for the quarter. Suburban Propane Partners had a net margin of 8.02% and a return on equity of 18.91%. The business had revenue of $498.09 million during the quarter.
Suburban Propane Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend was Monday, May 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 76.92%.
Insider Buying and Selling at Suburban Propane Partners
In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 3,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $19.18, for a total transaction of $57,540.00. Following the completion of the transaction, the director now owns 39,515 shares of the company’s stock, valued at approximately $757,897.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th.
Get Our Latest Stock Analysis on Suburban Propane Partners
Suburban Propane Partners 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.
See Also
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Source: defenseworld.net
