Federated Hermes Inc. Sells 4,095 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Federated Hermes Inc. trimmed its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,611 shares of the energy company’s stock after selling 4,095 shares during the quarter. Federated Hermes Inc.’s holdings in Suburban Propane Partners were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its holdings in Suburban Propane Partners by 16.5% in the 4th quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock worth $74,000 after acquiring an additional 591 shares in the last quarter. Archer Investment Corp boosted its stake in Suburban Propane Partners by 57.2% during the 3rd quarter. Archer Investment Corp now owns 11,000 shares of the energy company’s stock worth $177,000 after purchasing an additional 4,003 shares during the last quarter. Spirit of America Management Corp NY acquired a new stake in Suburban Propane Partners during the 4th quarter worth $178,000. Lincoln National Corp acquired a new stake in Suburban Propane Partners during the 3rd quarter worth $183,000. Finally, Sigma Planning Corp boosted its stake in Suburban Propane Partners by 3.4% during the 3rd quarter. Sigma Planning Corp now owns 18,609 shares of the energy company’s stock worth $299,000 after purchasing an additional 616 shares during the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Trading Down 0.8 %

NYSE SPH opened at $19.69 on Monday. The firm’s 50-day moving average is $20.29 and its two-hundred day moving average is $18.65. Suburban Propane Partners, L.P. has a 12 month low of $14.42 and a 12 month high of $22.33. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.72 and a quick ratio of 0.52. The stock has a market capitalization of $1.26 billion, a P/E ratio of 12.38 and a beta of 0.43.

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

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.325 per share. The ex-dividend date is Monday, May 6th. This represents a $1.30 dividend on an annualized basis and a yield of 6.60%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 81.76%.

Insiders Place Their Bets

In related news, SVP Neil Scanlon sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.33, for a total transaction of $502,580.00. Following the sale, the senior vice president now directly owns 162,129 shares in the company, valued at $3,133,953.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPH shares. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Mizuho cut shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $16.00 to $17.00 in a research report on Monday, January 29th.

Suburban Propane Partners 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.