Suburban Propane Partners, L.P. (NYSE:SPH) Short Interest Down 18.4% in February

Suburban Propane Partners, L.P. (NYSE:SPH) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 1,110,000 shares, a decline of 18.4% from the February 13th total of 1,360,000 shares. Based on an average trading volume of 265,700 shares, the days-to-cover ratio is presently 4.2 days. Approximately 1.8% of the company’s stock are short sold.

Insider Activity at Suburban Propane Partners

In other news, SVP Douglas Brinkworth sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $20.50, for a total transaction of $41,000.00. Following the completion of the transaction, the senior vice president now directly owns 159,355 shares of the company’s stock, valued at $3,266,777.50. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Schueler sold 7,746 shares of Suburban Propane Partners stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total transaction of $162,123.78. Following the completion of the sale, the vice president now owns 11,133 shares in the company, valued at $233,013.69. This trade represents a 41.03 % 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 insiders.

Institutional Investors Weigh In On Suburban Propane Partners

Several large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Suburban Propane Partners by 1.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,404,228 shares of the energy company’s stock worth $58,553,000 after buying an additional 33,560 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Suburban Propane Partners in the 4th quarter valued at about $24,340,000. JPMorgan Chase & Co. increased its stake in shares of Suburban Propane Partners by 6.2% during the 4th quarter. JPMorgan Chase & Co. now owns 684,155 shares of the energy company’s stock worth $11,767,000 after purchasing an additional 40,239 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Suburban Propane Partners during the 4th quarter worth about $3,474,000. Finally, Levin Capital Strategies L.P. raised its holdings in shares of Suburban Propane Partners by 10.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock valued at $3,340,000 after purchasing an additional 18,196 shares during the period. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Down 0.8 %

Suburban Propane Partners stock traded down $0.18 during mid-day trading on Thursday, reaching $20.98. The company’s stock had a trading volume of 29,369 shares, compared to its average volume of 279,411. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.51 and a current ratio of 0.70. Suburban Propane Partners has a 12 month low of $15.20 and a 12 month high of $22.24. The business’s 50 day simple moving average is $20.50 and its 200 day simple moving average is $19.00. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.79 and a beta of 0.46.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, February 6th. The energy company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.81%. During the same period in the prior year, the firm posted $0.38 earnings per share.

Suburban Propane Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Tuesday, February 4th. Suburban Propane Partners’s dividend payout ratio is currently 122.64%.

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.