Suburban Propane Partners LP (NYSE:SPH) was the target of a significant drop in short interest in November. As of November 29th, there was short interest totalling 372,800 shares, a drop of 31.2% from the November 14th total of 542,100 shares. Based on an average trading volume of 150,300 shares, the short-interest ratio is presently 2.5 days. Approximately 0.6% of the company’s stock are sold short.
Several institutional investors have recently added to or reduced their stakes in SPH. Marshall Wace LLP purchased a new stake in Suburban Propane Partners during the 1st quarter worth about $112,000. Steward Partners Investment Advisory LLC purchased a new stake in Suburban Propane Partners during the second quarter worth approximately $25,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Suburban Propane Partners during the second quarter worth approximately $291,000. Van ECK Associates Corp boosted its holdings in Suburban Propane Partners by 2.3% in the second quarter. Van ECK Associates Corp now owns 152,848 shares of the energy company’s stock valued at $3,713,000 after purchasing an additional 3,399 shares in the last quarter. Finally, Commerce Bank boosted its holdings in Suburban Propane Partners by 6.4% in the second quarter. Commerce Bank now owns 12,613 shares of the energy company’s stock valued at $306,000 after purchasing an additional 756 shares in the last quarter. 31.16% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. Zacks Investment Research cut Suburban Propane Partners from a “buy” rating to a “strong sell” rating in a research note on Wednesday, November 20th. ValuEngine raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 25th.
Shares of SPH stock traded up $0.12 during trading hours on Wednesday, reaching $22.12. 192,660 shares of the stock were exchanged, compared to its average volume of 170,172. The business’s fifty day moving average is $23.08 and its two-hundred day moving average is $23.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 0.57 and a quick ratio of 0.36. Suburban Propane Partners has a 12-month low of $18.63 and a 12-month high of $24.89. The firm has a market capitalization of $1.36 billion, a P/E ratio of 20.11, a P/E/G ratio of 4.04 and a beta of 0.86.
Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, November 14th. The energy company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.06). Suburban Propane Partners had a return on equity of 13.73% and a net margin of 5.41%. The firm had revenue of $172.01 million during the quarter, compared to analysts’ expectations of $192.00 million. As a group, equities research analysts predict that Suburban Propane Partners will post 1.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.60 per share. The ex-dividend date was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 10.85%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 218.18%.
Suburban Propane Partners Company Profile
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four 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, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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