Suburban Propane Partners (NYSE:SPH) Shares Gap Down After Earnings Miss

Suburban Propane Partners, L.P. (NYSE:SPH) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $21.64, but opened at $20.22. Suburban Propane Partners shares last traded at $20.58, with a volume of 21,343 shares traded.

The energy company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 12.64% and a net margin of 5.59%. During the same period last year, the business earned $0.38 EPS.

Suburban Propane Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th will be paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.27%. The ex-dividend date is Tuesday, February 4th. Suburban Propane Partners’s dividend payout ratio is presently 114.04%.

Insiders Place Their Bets

In other news, VP A Davin Dambrosio sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total transaction of $122,850.00. Following the completion of the sale, the vice president now directly owns 76,176 shares of the company’s stock, valued at $1,439,726.40. This trade represents a 7.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $49,616.00. Following the completion of the transaction, the vice president now owns 21,898 shares in the company, valued at $388,032.56. The trade was a 11.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Suburban Propane Partners

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Suburban Propane Partners during the second quarter valued at approximately $193,000. Simplicity Wealth LLC grew its position in Suburban Propane Partners by 4.2% during the 3rd quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock worth $412,000 after purchasing an additional 936 shares in the last quarter. Greenup Street Wealth Management LLC raised its stake in Suburban Propane Partners by 8.1% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock valued at $402,000 after purchasing an additional 1,675 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Suburban Propane Partners by 3.8% in the third quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock valued at $898,000 after purchasing an additional 1,818 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Suburban Propane Partners by 7.9% in the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after buying an additional 800 shares during the period. 30.94% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Stock Down 4.3 %

The business has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $18.36. The firm has a market cap of $1.34 billion, a PE ratio of 18.17 and a beta of 0.51. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.51 and a quick ratio of 0.33.

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.