Suburban Propane Partners, L.P. (NYSE:SPH) Sees Significant Drop in Short Interest

Suburban Propane Partners, L.P. (NYSE:SPH) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 934,700 shares, a decline of 13.5% from the June 15th total of 1,080,000 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 173,800 shares, the days-to-cover ratio is currently 5.4 days.

Insider Buying and Selling at Suburban Propane Partners

In related news, Director Harold R. Logan, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $19.18, for a total transaction of $57,540.00. Following the completion of the transaction, the director now owns 39,515 shares in the company, valued at $757,897.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently modified their holdings of SPH. CWM LLC lifted its holdings in Suburban Propane Partners by 52.1% in the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after acquiring an additional 734 shares during the period. Geneos Wealth Management Inc. raised its stake in Suburban Propane Partners by 64.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock valued at $52,000 after purchasing an additional 1,000 shares during the period. AdvisorNet Financial Inc raised its stake in Suburban Propane Partners by 16.5% during the 4th quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock valued at $74,000 after purchasing an additional 591 shares during the period. Spirit of America Management Corp NY bought a new stake in Suburban Propane Partners during the 4th quarter valued at approximately $178,000. Finally, LRI Investments LLC bought a new stake in Suburban Propane Partners during the 1st quarter valued at approximately $255,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPH. StockNews.com cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Argus upped their price target on Suburban Propane Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, June 10th.

Suburban Propane Partners Trading Up 0.1 %

NYSE SPH opened at $18.76 on Monday. Suburban Propane Partners has a 12 month low of $14.42 and a 12 month high of $22.33. The stock has a market cap of $1.20 billion, a P/E ratio of 11.10 and a beta of 0.44. The stock’s fifty day moving average price is $19.39 and its 200-day moving average price is $19.52. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 1.89.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, May 9th. The energy company reported $1.72 EPS for the quarter. Suburban Propane Partners had a return on equity of 18.91% and a net margin of 8.02%. The firm had revenue of $498.09 million for the quarter.

Suburban Propane Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.30 annualized dividend and a dividend yield of 6.93%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 76.92%.

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.