Suburban Propane Partners (NYSE:SPH) Trading Down 6.1% – Time to Sell?

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price dropped 6.1% during trading on Thursday . The company traded as low as $17.33 and last traded at $17.61. Approximately 109,273 shares traded hands during trading, a decline of 51% from the average daily volume of 221,736 shares. The stock had previously closed at $18.76.

Analysts Set New Price Targets

SPH has been the subject of a number of research reports. StockNews.com downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Wells Fargo & Company cut Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target for the company. in a research report on Friday, August 30th.

Suburban Propane Partners Price Performance

The firm has a market capitalization of $1.09 billion, a PE ratio of 11.57 and a beta of 0.43. The stock has a 50-day moving average price of $18.24 and a 200 day moving average price of $18.62. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98.

Suburban Propane Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.61%. The ex-dividend date was Tuesday, November 5th. Suburban Propane Partners’s dividend payout ratio is currently 86.67%.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,500 shares of the company’s 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 completion of the sale, the director now directly owns 37,015 shares in the company, valued at $642,950.55. This represents a 6.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Suburban Propane Partners

Hedge funds have recently modified their holdings of the business. Blackstone Inc. boosted its holdings in Suburban Propane Partners by 3.0% during the 1st quarter. Blackstone Inc. now owns 338,281 shares of the energy company’s stock valued at $6,911,000 after acquiring an additional 10,000 shares during the period. Foundry Partners LLC boosted its holdings in Suburban Propane Partners by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock valued at $4,201,000 after acquiring an additional 11,136 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Suburban Propane Partners by 33.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 199,405 shares of the energy company’s stock valued at $3,787,000 after acquiring an additional 50,212 shares during the period. Private Advisor Group LLC boosted its holdings in Suburban Propane Partners by 4.4% during the 2nd quarter. Private Advisor Group LLC now owns 64,281 shares of the energy company’s stock valued at $1,221,000 after acquiring an additional 2,732 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Suburban Propane Partners by 3.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock valued at $898,000 after purchasing an additional 1,818 shares in the last quarter. 30.94% of the stock is currently owned by hedge funds and other institutional investors.

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.