Suburban Propane Partners (NYSE:SPH) Sees Large Volume Increase – Time to Buy?

Suburban Propane Partners, L.P. (NYSE:SPH) shares saw unusually-strong trading volume on Wednesday . Approximately 77,284 shares changed hands during trading, a decline of 65% from the previous session’s volume of 221,141 shares.The stock last traded at $19.06 and had previously closed at $18.96.

Analysts Set New Price Targets

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

Suburban Propane Partners Price Performance

The company has a market cap of $1.24 billion, a P/E ratio of 16.97 and a beta of 0.43. The stock has a 50-day simple moving average of $18.34 and a 200 day simple moving average of $18.52. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.72%. The ex-dividend date was Tuesday, November 5th. Suburban Propane Partners’s payout ratio is currently 114.04%.

Insiders Place Their Bets

In other news, Director Harold R. Logan, Jr. sold 2,500 shares of the stock in a transaction on Friday, September 6th. The stock was 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 of the company’s stock, valued at $642,950.55. This represents a 6.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP A Davin Dambrosio sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $18.90, for a total value 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 approximately $1,439,726.40. This trade represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,800 shares of company stock valued at $215,891 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its holdings in Suburban Propane Partners by 52.1% during the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock worth $41,000 after buying an additional 734 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of Suburban Propane Partners in the 2nd quarter valued at about $418,000. Commonwealth Equity Services LLC lifted its stake 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 last quarter. Biechele Royce Advisors bought a new position in Suburban Propane Partners during the second quarter worth about $211,000. Finally, Foundry Partners LLC increased its position in Suburban Propane Partners by 5.3% during the second quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock worth $4,201,000 after buying an additional 11,136 shares during the last quarter. 30.94% of the stock is owned by 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.