First Republic Investment Management Inc. lifted its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH – Get Rating) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,259 shares of the energy company’s stock after purchasing an additional 14,122 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.16% of Suburban Propane Partners worth $1,554,000 as of its most recent SEC filing.
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Several other hedge funds also recently modified their holdings of SPH. Cambridge Investment Research Advisors Inc. increased its stake in shares of Suburban Propane Partners by 1.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,695 shares of the energy company’s stock worth $655,000 after purchasing an additional 676 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Suburban Propane Partners by 7.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 35,208 shares of the energy company’s stock worth $567,000 after purchasing an additional 2,400 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Suburban Propane Partners by 41.9% during the 1st quarter. Virtu Financial LLC now owns 17,833 shares of the energy company’s stock worth $287,000 after purchasing an additional 5,267 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Suburban Propane Partners by 4,041.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 235,298 shares of the energy company’s stock worth $3,788,000 after purchasing an additional 229,617 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Suburban Propane Partners by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,231 shares of the energy company’s stock worth $503,000 after buying an additional 1,728 shares during the period. Institutional investors and hedge funds own 19.42% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on SPH. Wells Fargo & Company decreased their price objective on shares of Suburban Propane Partners from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, November 17th. StockNews.com downgraded shares of Suburban Propane Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 19th.
Suburban Propane Partners Price Performance
NYSE SPH opened at $15.76 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.35 and a debt-to-equity ratio of 2.17. Suburban Propane Partners, L.P. has a 1 year low of $14.25 and a 1 year high of $17.75. The company has a fifty day simple moving average of $15.74 and a 200 day simple moving average of $16.06. The company has a market cap of $1.00 billion, a P/E ratio of 7.23 and a beta of 0.68.
Suburban Propane Partners (NYSE:SPH – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The energy company reported ($0.86) earnings per share for the quarter. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 26.92%. The company had revenue of $237.63 million during the quarter.
Suburban Propane Partners Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 7th. Shareholders of record on Tuesday, January 31st will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date is Monday, January 30th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 59.63%.
Insider Buying and Selling at Suburban Propane Partners
In other Suburban Propane Partners news, SVP Douglas Brinkworth sold 12,500 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $16.03, for a total value of $200,375.00. Following the completion of the sale, the senior vice president now directly owns 164,113 shares of the company’s stock, valued at approximately $2,630,731.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Michael A. Schueler sold 3,882 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $16.29, for a total transaction of $63,237.78. Following the completion of the transaction, the vice president now directly owns 47,773 shares of the company’s stock, valued at approximately $778,222.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas Brinkworth sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $16.03, for a total transaction of $200,375.00. Following the transaction, the senior vice president now directly owns 164,113 shares of the company’s stock, valued at $2,630,731.39. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Suburban Propane Partners Company Profile
Suburban Propane Partners LP engages in the marketing and distribution of propane, renewable propane, fuel oil, and refined fuels. It operates through the following 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, agricultural, and government customers.
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