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

Suburban Propane Partners, L.P. (NYSE:SPH) gapped up before the market opened on Thursday after the company announced a dividend. 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. Investors of record on Tuesday, February 4th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.76%. Suburban Propane Partners’s dividend payout ratio is 114.04%.

Suburban Propane Partners Trading Up 0.7 %

The stock has a market cap of $1.24 billion, a P/E ratio of 16.89 and a beta of 0.48. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 2.21. The business’s 50 day simple moving average is $18.36 and its two-hundred day simple moving average is $18.22.

Insider Activity at Suburban Propane Partners

In related news, VP A Davin Dambrosio sold 6,500 shares of Suburban Propane Partners stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $18.90, for a total transaction of $122,850.00. Following the sale, the vice president now directly owns 76,176 shares in the company, valued at $1,439,726.40. This trade represents a 7.86 % decrease in their position. The transaction 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 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 approximately $388,032.56. This trade represents a 11.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPH. Oppenheimer & Co. Inc. raised its position in shares of Suburban Propane Partners by 7.9% during the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after acquiring an additional 800 shares during the last quarter. Simplicity Wealth LLC increased its position in Suburban Propane Partners by 4.2% during 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 during the period. Cetera Trust Company N.A bought a new position in Suburban Propane Partners during the 4th quarter worth approximately $28,000. Greenup Street Wealth Management LLC lifted its position in shares of Suburban Propane Partners by 8.1% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock worth $402,000 after purchasing an additional 1,675 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of 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 during the last quarter. 30.94% of the stock is owned by institutional investors and hedge funds.

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.