Suburban Propane Partners, L.P. (SPH) to Distribute Quarterly Dividend of $0.35 on November 10th

Suburban Propane Partners, L.P. (NYSE:SPH) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.35 per share by the energy company on Tuesday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 7.7% increase from Suburban Propane Partners’s previous quarterly dividend of $0.3250.

Suburban Propane Partners has decreased its dividend payment by an average of 0.1% per year over the last three years. Suburban Propane Partners has a dividend payout ratio of 82.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Suburban Propane Partners to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 68.3%.

Suburban Propane Partners Stock Performance

Suburban Propane Partners stock opened at $17.99 on Friday. The firm has a market cap of $1.20 billion, a P/E ratio of 9.18, a P/E/G ratio of 2.19 and a beta of 0.43. Suburban Propane Partners has a 1-year low of $16.25 and a 1-year high of $20.80. The firm has a 50-day moving average of $17.23 and a 200-day moving average of $18.73. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.72.

Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $255.00 million. Sell-side analysts expect that Suburban Propane Partners will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPH shares. Zacks Research lowered Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Weiss Ratings lowered shares of Suburban Propane Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 11th. Finally, Wall Street Zen cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Suburban Propane Partners

Suburban Propane Partners, L.P. (NYSE:SPH) is a master limited partnership that distributes and sells propane and other energy products to residential, commercial, industrial, agricultural, and government customers. Its propane business supports heating, cooking, water heating, standby power generation, and vehicle-fueling applications.

The company also markets heating oil, kerosene, diesel fuel, gasoline, natural gas, and electricity in selected markets. Through its service operations, Suburban Propane provides equipment installation, maintenance, and repair services, including support for heating and cooling systems, generators, and related energy equipment.

Suburban Propane traces its roots to 1928 and has expanded through acquisitions and internal growth.