Suburban Propane Partners, L.P. (NYSE:SPH – Get Rating) announced a quarterly dividend on Thursday, October 20th, Zacks reports. Shareholders of record on Tuesday, November 1st will be paid a dividend of 0.325 per share by the energy company on Tuesday, November 8th. This represents a $1.30 annualized dividend and a yield of 8.01%. The ex-dividend date of this dividend is Monday, October 31st.
Suburban Propane Partners has decreased its dividend payment by an average of 19.5% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Suburban Propane Partners has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings.
Suburban Propane Partners Stock Down 0.6 %
Suburban Propane Partners stock opened at $16.22 on Friday. The firm has a 50 day moving average price of $16.25 and a 200-day moving average price of $16.32. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.91. Suburban Propane Partners has a twelve month low of $13.83 and a twelve month high of $17.75. The company has a market capitalization of $1.02 billion, a P/E ratio of 5.83 and a beta of 0.63.
Suburban Propane Partners (NYSE:SPH – Get Rating) last released its earnings results on Thursday, August 4th. The energy company reported ($0.04) earnings per share (EPS) for the quarter. Suburban Propane Partners had a return on equity of 35.43% and a net margin of 12.06%. The firm had revenue of $300.33 million during the quarter.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on Suburban Propane Partners in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.
Hedge Funds Weigh In On Suburban Propane Partners
A number of large investors have recently made changes to their positions in SPH. Credit Suisse AG bought a new position in shares of Suburban Propane Partners in the second quarter worth $101,000. Captrust Financial Advisors boosted its holdings in shares of Suburban Propane Partners by 407.3% in the second quarter. Captrust Financial Advisors now owns 11,302 shares of the energy company’s stock worth $172,000 after acquiring an additional 9,074 shares during the period. Virtu Financial LLC boosted its holdings in shares of Suburban Propane Partners by 41.9% in the first quarter. Virtu Financial LLC now owns 17,833 shares of the energy company’s stock worth $287,000 after acquiring an additional 5,267 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Suburban Propane Partners by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,231 shares of the energy company’s stock worth $503,000 after acquiring an additional 1,728 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Suburban Propane Partners by 7.3% during the first quarter. PNC Financial Services Group Inc. now owns 35,208 shares of the energy company’s stock valued at $567,000 after buying an additional 2,400 shares during the period. 20.06% of the stock is owned by institutional investors.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Suburban Propane Partners, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Suburban Propane Partners wasn’t on the list.
While Suburban Propane Partners currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
