Suburban Propane Partners (NYSE:SPH) Shares Gap Up Following Dividend Announcement

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $19.10, but opened at $19.84. Suburban Propane Partners shares last traded at $19.41, with a volume of 60,937 shares trading hands.

The newly announced dividend which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.77%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 114.04%.

Suburban Propane Partners Price Performance

The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 2.21. The company’s 50 day moving average price is $18.36 and its 200 day moving average price is $18.22. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 16.84 and a beta of 0.48.

Insiders Place Their Bets

In other Suburban Propane Partners news, VP A Davin Dambrosio sold 6,500 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 76,176 shares in the company, valued at $1,439,726.40. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Craig Palleschi sold 2,800 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 21,898 shares of the company’s stock, valued at approximately $388,032.56. This represents 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 Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently bought and sold shares of SPH. Cetera Trust Company N.A acquired a new position in shares of Suburban Propane Partners during the fourth quarter worth $28,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Suburban Propane Partners during the second quarter worth $193,000. Oppenheimer & Co. Inc. lifted its position in shares of Suburban Propane Partners by 7.9% during the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after purchasing an additional 800 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Suburban Propane Partners during the third quarter worth $270,000. Finally, Greenup Street Wealth Management LLC lifted its position in shares of Suburban Propane Partners by 8.1% during the third quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock worth $402,000 after purchasing an additional 1,675 shares in the last quarter. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

About Suburban Propane Partners

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.