BNP Paribas Financial Markets Sells 33,820 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

BNP Paribas Financial Markets reduced its position in Suburban Propane Partners, L.P. (NYSE:SPH) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,117 shares of the energy company’s stock after selling 33,820 shares during the quarter. BNP Paribas Financial Markets’ holdings in Suburban Propane Partners were worth $1,599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC raised its holdings in Suburban Propane Partners by 52.1% in the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock worth $41,000 after purchasing an additional 734 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Suburban Propane Partners in the second quarter worth about $193,000. Oppenheimer & Co. Inc. raised its holdings in Suburban Propane Partners by 7.9% in 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. Biechele Royce Advisors bought a new position in Suburban Propane Partners in the second quarter worth about $211,000. Finally, Simplicity Wealth LLC bought a new position in Suburban Propane Partners in the second quarter worth about $418,000. 30.94% of the stock is currently owned by institutional investors.

Insider Activity at Suburban Propane Partners

In related news, VP A Davin Dambrosio sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total value of $122,850.00. Following the sale, the vice president now owns 76,176 shares in the company, valued at $1,439,726.40. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Craig Palleschi sold 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total value of $49,616.00. Following the completion of the sale, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. This represents a 11.34 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Suburban Propane Partners Price Performance

Shares of SPH stock opened at $18.86 on Monday. Suburban Propane Partners, L.P. has a fifty-two week low of $15.20 and a fifty-two week high of $22.33. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 16.54 and a beta of 0.45. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.45 and a current ratio of 0.51. The stock’s 50-day simple moving average is $18.57 and its 200-day simple moving average is $18.53.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were given a $0.325 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.30 dividend on an annualized basis and a yield of 6.89%. Suburban Propane Partners’s dividend payout ratio is currently 114.04%.

Suburban Propane Partners 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.