Suburban Propane Partners (NYSE:SPH) Shares Gap Up After Dividend Announcement

Suburban Propane Partners, L.P. (NYSE:SPH)’s share price gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $19.10, but opened at $19.84. Suburban Propane Partners shares last traded at $19.41, with a volume of 60,937 shares.

The newly announced dividend which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.30 dividend on an annualized basis and a yield of 6.64%. Suburban Propane Partners’s payout ratio is 114.04%.

Suburban Propane Partners Stock Up 2.1 %

The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.33 and a current ratio of 0.51. The firm’s 50-day moving average is $18.44 and its 200 day moving average is $18.23. The firm has a market capitalization of $1.26 billion, a PE ratio of 17.16 and a beta of 0.48.

Insider Activity at Suburban Propane Partners

In other news, VP Craig Palleschi sold 2,800 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total transaction of $49,616.00. Following the completion of the transaction, the vice president now owns 21,898 shares of the company’s stock, valued at $388,032.56. This represents a 11.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP A Davin Dambrosio sold 6,500 shares of the firm’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 transaction of $122,850.00. Following the completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

A number of large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its holdings in shares of Suburban Propane Partners by 7.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after buying an additional 800 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Suburban Propane Partners by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock worth $11,552,000 after acquiring an additional 155,360 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Suburban Propane Partners in the 3rd quarter worth about $270,000. Simplicity Wealth LLC lifted its stake in shares of Suburban Propane Partners by 4.2% in the 3rd quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock valued at $412,000 after purchasing an additional 936 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Suburban Propane Partners in the 2nd quarter valued at about $193,000. Hedge funds and other institutional investors own 30.94% of the company’s stock.

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.