Suburban Propane Partners (NYSE:SPH) Hits New 1-Year Low – Here’s What Happened

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $16.31 and last traded at $16.60, with a volume of 329498 shares. The stock had previously closed at $16.47.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Wall Street Zen cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings downgraded shares of Suburban Propane Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Suburban Propane Partners Stock Performance

The firm has a 50 day moving average of $17.49 and a two-hundred day moving average of $18.51. The stock has a market cap of $1.09 billion, a PE ratio of 8.35, a PEG ratio of 2.00 and a beta of 0.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.78 and a quick ratio of 0.52.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.11). Suburban Propane Partners had a net margin of 9.37% and a return on equity of 18.57%. The business had revenue of $261.38 million during the quarter, compared to analyst estimates of $255.00 million. Research analysts predict that Suburban Propane Partners, L.P. will post 2.05 EPS for the current fiscal year.

Suburban Propane Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, August 4th were issued a $0.3250 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.30 annualized dividend and a dividend yield of 7.9%. Suburban Propane Partners’s dividend payout ratio is presently 66.33%.

Insider Activity at Suburban Propane Partners

In related news, VP Bryon Koepke sold 2,848 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $17.65, for a total value of $50,267.20. Following the transaction, the vice president directly owned 100,714 shares of the company’s stock, valued at $1,777,602.10. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 3,360 shares of company stock valued at $58,710. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

Several large investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its position in Suburban Propane Partners by 5.1% during the fourth quarter. Alps Advisors Inc. now owns 15,051,196 shares of the energy company’s stock worth $279,049,000 after buying an additional 724,170 shares during the period. Clearwave Capital LLC acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at approximately $396,000. ING Groep NV grew its position in shares of Suburban Propane Partners by 16.9% during the fourth quarter. ING Groep NV now owns 138,000 shares of the energy company’s stock worth $2,559,000 after acquiring an additional 20,000 shares during the last quarter. J. Safra Sarasin Holding AG purchased a new position in shares of Suburban Propane Partners during the first quarter worth approximately $350,000. Finally, Independent Financial Group LLC purchased a new position in shares of Suburban Propane Partners during the first quarter worth approximately $298,000. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P. (NYSE: SPH) is an energy distributor and marketer that supplies propane, fuel oil, and other refined fuels to residential, commercial, industrial, agricultural, and government customers. The company also markets natural gas and electricity and provides related energy services.

Its offerings include propane delivery for home heating, cooking, and equipment operation, as well as fuel delivery and services for businesses and agricultural users. Suburban Propane also sells and services heating equipment, propane-powered appliances, and hearth products, and provides installation, maintenance, and repair services in selected markets.

The company traces its history to 1928 and operates through a network serving customers across approximately 42 states, primarily in the United States.