Suburban Propane Partners, L.P. (NYSE:SPH) Short Interest Down 29.2% in February

Suburban Propane Partners, L.P. (NYSE:SPH) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 407,022 shares, a decrease of 29.2% from the February 12th total of 574,998 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 145,133 shares, the days-to-cover ratio is currently 2.8 days. Based on an average trading volume of 145,133 shares, the days-to-cover ratio is currently 2.8 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Founders Capital Management boosted its holdings in Suburban Propane Partners by 56.4% in the third quarter. Founders Capital Management now owns 1,877 shares of the energy company’s stock valued at $35,000 after purchasing an additional 677 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Suburban Propane Partners during the 4th quarter worth approximately $37,000. Triumph Capital Management purchased a new stake in Suburban Propane Partners during the 3rd quarter worth approximately $50,000. Advisory Services Network LLC acquired a new position in shares of Suburban Propane Partners in the 3rd quarter valued at approximately $62,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Suburban Propane Partners by 37.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock valued at $68,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Down 1.2%

Shares of NYSE SPH traded down $0.24 during trading on Friday, reaching $20.39. 127,319 shares of the stock were exchanged, compared to its average volume of 133,015. The business’s 50-day moving average price is $19.88 and its 200 day moving average price is $19.11. Suburban Propane Partners has a twelve month low of $17.30 and a twelve month high of $21.72. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.04 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. The business had revenue of $370.39 million during the quarter, compared to analyst estimates of $392.00 million.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd were paid a dividend of $0.325 per share. The ex-dividend date was Tuesday, February 3rd. This represents a $1.30 annualized dividend and a dividend yield of 6.4%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 64.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SPH shares. Zacks Research raised Suburban Propane Partners to a “hold” rating in a research note on Friday, January 23rd. Argus upgraded shares of Suburban Propane Partners to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings raised shares of Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.