Suburban Propane Partners, L.P. (NYSE:SPH) Declares $0.33 Quarterly Dividend

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Tuesday, May 7th will be given a dividend of 0.325 per share by the energy company on Tuesday, May 14th. This represents a $1.30 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend is Monday, May 6th.

Suburban Propane Partners has decreased its dividend payment by an average of 10.3% annually over the last three years. Suburban Propane Partners has a payout ratio of 52.0% indicating that its dividend is sufficiently covered by earnings.

Suburban Propane Partners Trading Down 0.8 %

Suburban Propane Partners stock opened at $19.69 on Friday. The firm has a 50 day moving average of $20.29 and a 200 day moving average of $18.60. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.38 and a beta of 0.43. Suburban Propane Partners has a 12-month low of $14.42 and a 12-month high of $22.33. The company has a current ratio of 0.72, a quick ratio of 0.52 and a debt-to-equity ratio of 2.26.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 8th. The energy company reported $0.38 earnings per share (EPS) for the quarter. Suburban Propane Partners had a net margin of 7.36% and a return on equity of 17.97%. The company had revenue of $365.83 million during the quarter.

Insiders Place Their Bets

In other news, SVP Neil Scanlon sold 26,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.33, for a total transaction of $502,580.00. Following the completion of the transaction, the senior vice president now directly owns 162,129 shares in the company, valued at approximately $3,133,953.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho downgraded Suburban Propane Partners from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 29th. StockNews.com downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th.

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.