Suburban Propane Partners, L.P. (NYSE:SPH) Position Decreased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Suburban Propane Partners, L.P. (NYSE:SPH) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 726,959 shares of the energy company’s stock after selling 20,110 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.14% of Suburban Propane Partners worth $12,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Money Concepts Capital Corp lifted its holdings in shares of Suburban Propane Partners by 391.1% during the fourth quarter. Money Concepts Capital Corp now owns 2,087 shares of the energy company’s stock valued at $32,000 after purchasing an additional 1,662 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Suburban Propane Partners by 194.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,273 shares of the energy company’s stock valued at $35,000 after buying an additional 1,500 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Suburban Propane Partners by 26.7% in the third quarter. AdvisorNet Financial Inc now owns 3,571 shares of the energy company’s stock worth $57,000 after buying an additional 753 shares during the period. Credit Suisse AG purchased a new position in shares of Suburban Propane Partners in the second quarter worth approximately $101,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Suburban Propane Partners in the 4th quarter valued at approximately $178,000. 30.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Mizuho cut shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $16.00 to $17.00 in a research report on Monday, January 29th. StockNews.com lowered Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th.

Insider Activity

In related news, SVP Neil Scanlon sold 26,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.33, for a total value of $502,580.00. Following the transaction, the senior vice president now owns 162,129 shares in the company, valued at $3,133,953.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Suburban Propane Partners Stock Performance

Shares of SPH opened at $19.83 on Friday. The company has a market capitalization of $1.27 billion, a PE ratio of 12.47 and a beta of 0.43. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.52 and a current ratio of 0.72. The company’s 50 day moving average price is $20.36 and its 200 day moving average price is $18.34. Suburban Propane Partners, L.P. has a 52 week low of $14.42 and a 52 week high of $22.33.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings results on Thursday, February 8th. The energy company reported $0.38 EPS for the quarter. Suburban Propane Partners had a net margin of 7.36% and a return on equity of 17.97%. The business had revenue of $365.83 million for the quarter.

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend was Monday, February 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 81.76%.

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.