Hanson McClain Inc. boosted its stake in Suburban Propane Partners LP (NYSE:SPH) by 912.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,441 shares of the energy company’s stock after buying an additional 2,200 shares during the period. Hanson McClain Inc.’s holdings in Suburban Propane Partners were worth $55,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Neuberger Berman Group LLC raised its holdings in Suburban Propane Partners by 34.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 23,406 shares of the energy company’s stock valued at $551,000 after buying an additional 6,000 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Suburban Propane Partners by 4,458.1% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,960 shares of the energy company’s stock valued at $38,000 after buying an additional 1,917 shares during the period. AlphaMark Advisors LLC increased its stake in Suburban Propane Partners by 2,600.0% during the fourth quarter. AlphaMark Advisors LLC now owns 5,400 shares of the energy company’s stock worth $104,000 after purchasing an additional 5,200 shares during the period. Ellis Investment Partners LLC purchased a new stake in Suburban Propane Partners during the first quarter worth about $968,000. Finally, Energy Income Partners LLC increased its stake in Suburban Propane Partners by 6.3% during the fourth quarter. Energy Income Partners LLC now owns 400,198 shares of the energy company’s stock worth $7,712,000 after purchasing an additional 23,574 shares during the period. Hedge funds and other institutional investors own 31.02% of the company’s stock.
Shares of NYSE:SPH opened at $23.37 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.02 and a current ratio of 1.30. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 4.81 and a beta of 0.95. Suburban Propane Partners LP has a 1 year low of $18.63 and a 1 year high of $24.57.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $2.40 dividend on an annualized basis and a yield of 10.27%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 193.55%.
A number of analysts have issued reports on the stock. Zacks Investment Research lowered shares of Suburban Propane Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. TheStreet upgraded shares of Suburban Propane Partners from a “c+” rating to a “b-” rating in a research note on Friday, April 5th. Finally, ValuEngine upgraded shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.
In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,900 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.05, for a total transaction of $63,945.00. Following the sale, the director now directly owns 27,599 shares in the company, valued at $608,557.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by corporate insiders.
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Suburban Propane Partners Profile
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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