Federated Hermes Inc. Sells 24,965 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Federated Hermes Inc. cut its position in Suburban Propane Partners, L.P. (NYSE:SPH – Get Rating) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,941 shares of the energy company’s stock after selling 24,965 shares during the quarter. Federated Hermes Inc. owned 0.20% of Suburban Propane Partners worth $1,865,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Alphastar Capital Management LLC increased its stake in shares of Suburban Propane Partners by 9.0% in the third quarter. Alphastar Capital Management LLC now owns 95,607 shares of the energy company’s stock valued at $1,439,000 after buying an additional 7,854 shares during the period. Bowen Hanes & Co. Inc. increased its stake in shares of Suburban Propane Partners by 20.8% in the second quarter. Bowen Hanes & Co. Inc. now owns 725,000 shares of the energy company’s stock valued at $11,063,000 after buying an additional 125,000 shares during the period. Private Portfolio Partners LLC increased its stake in shares of Suburban Propane Partners by 8.1% in the third quarter. Private Portfolio Partners LLC now owns 19,405 shares of the energy company’s stock valued at $292,000 after buying an additional 1,460 shares during the period. Creative Planning increased its stake in shares of Suburban Propane Partners by 6.3% in the third quarter. Creative Planning now owns 22,547 shares of the energy company’s stock valued at $339,000 after buying an additional 1,338 shares during the period. Finally, Liberty Capital Management Inc. acquired a new stake in shares of Suburban Propane Partners in the third quarter valued at about $333,000. 19.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPH has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Suburban Propane Partners from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, November 17th. StockNews.com cut Suburban Propane Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 19th.

Suburban Propane Partners Trading Down 1.0 %

NYSE SPH opened at $15.10 on Friday. The business has a 50 day simple moving average of $15.61 and a 200 day simple moving average of $15.93. Suburban Propane Partners, L.P. has a one year low of $14.40 and a one year high of $17.75. The stock has a market capitalization of $958.70 million, a P/E ratio of 5.92 and a beta of 0.67. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.58.

Suburban Propane Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 7th. Investors of record on Tuesday, January 31st were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, January 30th. This represents a $1.30 annualized dividend and a yield of 8.61%. Suburban Propane Partners’s dividend payout ratio is currently 50.98%.

Suburban Propane Partners Company Profile

(Get Rating)

Suburban Propane Partners LP engages in the marketing and distribution of propane, renewable propane, fuel oil, and refined fuels. It operates through the following 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, agricultural, and government customers.