Suburban Propane Partners (NYSE:SPH) Hits New 52-Week High – Time to Buy?

Suburban Propane Partners, L.P. (NYSE:SPH) hit a new 52-week high during trading on Monday . The company traded as high as $21.55 and last traded at $21.45, with a volume of 158404 shares changing hands. The stock had previously closed at $21.13.

Suburban Propane Partners Price Performance

The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.33 and a current ratio of 0.51. The company has a market cap of $1.39 billion, a P/E ratio of 18.96 and a beta of 0.50. The stock has a 50-day simple moving average of $18.83 and a 200 day simple moving average of $18.34.

Suburban Propane Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.30 annualized dividend and a yield of 6.01%. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 114.04%.

Insider Transactions at Suburban Propane Partners

In other news, VP A Davin Dambrosio sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $18.90, for a total transaction of $122,850.00. Following the completion of the transaction, the vice president now owns 76,176 shares of the company’s stock, valued at approximately $1,439,726.40. This trade represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Craig Palleschi sold 2,800 shares of Suburban Propane Partners stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total transaction of $49,616.00. Following the transaction, the vice president now directly owns 21,898 shares of the company’s stock, valued at $388,032.56. This represents a 11.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

Several hedge funds have recently made changes to their positions in SPH. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Suburban Propane Partners during the 4th quarter valued at approximately $24,340,000. JPMorgan Chase & Co. raised its position in shares of Suburban Propane Partners by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock worth $11,552,000 after purchasing an additional 155,360 shares during the last quarter. Wealthstar Advisors LLC purchased a new position in shares of Suburban Propane Partners in the 4th quarter worth about $554,000. Levin Capital Strategies L.P. raised its position in Suburban Propane Partners by 10.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock worth $3,340,000 after buying an additional 18,196 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in Suburban Propane Partners in the 3rd quarter worth about $270,000. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.