US Bancorp DE Lowers Stock Holdings in Suburban Propane Partners, L.P. (NYSE:SPH)

US Bancorp DE lessened its stake in Suburban Propane Partners, L.P. (NYSE:SPH) by 31.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,350 shares of the energy company’s stock after selling 3,300 shares during the quarter. US Bancorp DE’s holdings in Suburban Propane Partners were worth $113,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SPH. Moneta Group Investment Advisors LLC boosted its stake in shares of Suburban Propane Partners by 104,015.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 66,827,339 shares of the energy company’s stock valued at $1,014,439,000 after buying an additional 66,763,153 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Suburban Propane Partners in the 4th quarter valued at about $20,323,000. Natixis boosted its stake in shares of Suburban Propane Partners by 100.0% in the 4th quarter. Natixis now owns 805,200 shares of the energy company’s stock valued at $12,223,000 after buying an additional 402,600 shares during the period. Levin Capital Strategies L.P. boosted its stake in shares of Suburban Propane Partners by 192.6% in the 4th quarter. Levin Capital Strategies L.P. now owns 472,658 shares of the energy company’s stock valued at $7,175,000 after buying an additional 311,107 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Suburban Propane Partners by 70.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 591,483 shares of the energy company’s stock valued at $9,026,000 after buying an additional 244,537 shares during the period. Hedge funds and other institutional investors own 17.49% of the company’s stock.

Suburban Propane Partners Price Performance

SPH stock opened at $14.53 on Friday. The business has a 50 day moving average price of $14.75 and a 200 day moving average price of $15.04. The stock has a market cap of $922.80 million, a price-to-earnings ratio of 10.45 and a beta of 0.64. Suburban Propane Partners, L.P. has a fifty-two week low of $14.42 and a fifty-two week high of $17.06. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 2.08.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.08) EPS for the quarter. Suburban Propane Partners had a return on equity of 16.35% and a net margin of 6.28%. The company had revenue of $278.63 million for the quarter.

Suburban Propane Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 8th. Shareholders of record on Tuesday, August 1st were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 8.95%. The ex-dividend date was Monday, July 31st. Suburban Propane Partners’s payout ratio is 93.53%.

Insiders Place Their Bets

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 4,400 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $14.55, for a total value of $64,020.00. Following the sale, the director now owns 42,515 shares of the company’s stock, valued at $618,593.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SPH has been the subject of several recent analyst reports. Mizuho decreased their target price on Suburban Propane Partners from $17.00 to $16.00 in a research note on Thursday, June 29th. StockNews.com initiated coverage on Suburban Propane Partners in a research note on Thursday, August 17th. They set a “buy” rating for the company.

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. The company operates through 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 for space heating, water heating, cooking, and clothes drying in the residential and commercial markets; for use as a motor fuel in internal combustion engines to power over-the-road vehicles, forklifts, and stationary engines, as well as to fire furnaces as a cutting gas to the industrial customers; and for tobacco curing, crop drying, poultry brooding, and weed control in the agricultural markets.