Oppenheimer & Co. Inc. Sells 996 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Oppenheimer & Co. Inc. lessened its holdings in Suburban Propane Partners, L.P. (NYSE:SPHGet Rating) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,347 shares of the energy company’s stock after selling 996 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Suburban Propane Partners were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Antonetti Capital Management LLC bought a new position in Suburban Propane Partners in the 1st quarter valued at $29,000. GPS Wealth Strategies Group LLC bought a new position in shares of Suburban Propane Partners during the 2nd quarter worth $31,000. Sargent Bickham Lagudis LLC bought a new position in shares of Suburban Propane Partners during the 2nd quarter worth $31,000. Venture Visionary Partners LLC bought a new position in shares of Suburban Propane Partners during the 2nd quarter worth $56,000. Finally, Selective Wealth Management Inc. grew its position in shares of Suburban Propane Partners by 22.3% during the 2nd quarter. Selective Wealth Management Inc. now owns 3,833 shares of the energy company’s stock worth $58,000 after buying an additional 700 shares in the last quarter. Institutional investors own 20.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPH. Wells Fargo & Company dropped their price target on Suburban Propane Partners from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com raised Suburban Propane Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 11th.

Suburban Propane Partners Price Performance

Shares of SPH stock opened at $15.72 on Friday. Suburban Propane Partners, L.P. has a 1-year low of $13.83 and a 1-year high of $17.75. The stock’s 50-day moving average is $16.21 and its 200 day moving average is $16.26. The company has a market cap of $989.94 million, a P/E ratio of 7.21 and a beta of 0.66. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.89 and a quick ratio of 0.61.

Suburban Propane Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. Investors of record on Tuesday, November 1st were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 8.27%. The ex-dividend date was Monday, October 31st. Suburban Propane Partners’s payout ratio is currently 59.63%.

Suburban Propane Partners Company Profile

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Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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Institutional Ownership by Quarter for Suburban Propane Partners (NYSE:SPH)

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