Oppenheimer & Co. Inc. Acquires 800 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Oppenheimer & Co. Inc. increased its holdings in Suburban Propane Partners, L.P. (NYSE:SPH) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,961 shares of the energy company’s stock after buying an additional 800 shares during the period. Oppenheimer & Co. Inc.’s holdings in Suburban Propane Partners were worth $197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SPH. Blackstone Inc. boosted its holdings in Suburban Propane Partners by 3.0% in the 1st quarter. Blackstone Inc. now owns 338,281 shares of the energy company’s stock valued at $6,911,000 after purchasing an additional 10,000 shares during the period. LRI Investments LLC bought a new position in Suburban Propane Partners in the 1st quarter valued at $255,000. CWM LLC boosted its holdings in Suburban Propane Partners by 52.1% in the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after purchasing an additional 734 shares during the period. Simplicity Wealth LLC bought a new position in Suburban Propane Partners in the 2nd quarter valued at $418,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Suburban Propane Partners by 33.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock valued at $3,787,000 after purchasing an additional 50,212 shares during the period. 30.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company downgraded shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target for the company. in a report on Friday, August 30th. StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th.

Insider Buying and Selling

In related news, Director Harold R. Logan, Jr. sold 2,500 shares of Suburban Propane Partners stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.37, for a total value of $43,425.00. Following the transaction, the director now owns 37,015 shares in the company, valued at $642,950.55. This trade represents a 6.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the transaction, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. The trade was a 11.34 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Suburban Propane Partners Stock Performance

Suburban Propane Partners stock opened at $18.66 on Friday. The firm’s fifty day moving average price is $18.27 and its 200-day moving average price is $18.54. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. The stock has a market cap of $1.20 billion, a P/E ratio of 16.37 and a beta of 0.43. Suburban Propane Partners, L.P. has a fifty-two week low of $15.20 and a fifty-two week high of $22.33.

Suburban Propane Partners Dividend Announcement

The business 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 $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend was Tuesday, November 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 114.04%.

Suburban Propane Partners 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.