Suburban Propane Partners (NYSE:SPH) Sees Large Volume Increase – Still a Buy?

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) saw strong trading volume on Wednesday . 77,284 shares were traded during mid-day trading, a decline of 65% from the previous session’s volume of 221,141 shares.The stock last traded at $19.06 and had previously closed at $18.96.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company downgraded Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 target price for the company. in a research report on Friday, August 30th. StockNews.com downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Suburban Propane Partners Stock Up 1.8 %

The business has a fifty day moving average of $18.31 and a 200 day moving average of $18.51. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98. The firm has a market cap of $1.24 billion, a P/E ratio of 16.63 and a beta of 0.43.

Suburban Propane Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend was Tuesday, November 5th. Suburban Propane Partners’s payout ratio is presently 114.04%.

Insider Activity

In other news, VP Craig Palleschi sold 2,800 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was 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 directly owns 21,898 shares of the company’s stock, valued at $388,032.56. This represents a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harold R. Logan, Jr. sold 2,500 shares of Suburban Propane Partners stock in a transaction that occurred on Friday, September 6th. The shares were 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 approximately $642,950.55. This represents a 6.33 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Trading of Suburban Propane Partners

Institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its position in shares of 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 worth $3,787,000 after purchasing an additional 50,212 shares during the last quarter. Simplicity Wealth LLC acquired a new position in shares of Suburban Propane Partners during the 2nd quarter worth about $418,000. Captrust Financial Advisors bought a new position in Suburban Propane Partners during the third quarter worth about $270,000. LRI Investments LLC acquired a new stake in shares of Suburban Propane Partners in the first quarter valued at approximately $255,000. Finally, Foundry Partners LLC boosted its stake in shares of Suburban Propane Partners by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 221,247 shares of the energy company’s stock worth $4,201,000 after acquiring an additional 11,136 shares during the period. 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.