Suburban Propane Partners, L.P. (NYSE:SPH) Sees Large Decrease in Short Interest

Suburban Propane Partners, L.P. (NYSE:SPH) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,660,000 shares, a decline of 14.4% from the March 31st total of 1,940,000 shares. Based on an average daily volume of 328,500 shares, the short-interest ratio is presently 5.1 days. Approximately 2.7% of the company’s shares are sold short.

Insiders Place Their Bets

In other Suburban Propane Partners news, SVP Neil Scanlon sold 26,000 shares of Suburban Propane Partners 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 transaction, the senior vice president now directly owns 162,129 shares in the company, valued at approximately $3,133,953.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors and hedge funds have recently modified their holdings of SPH. AdvisorNet Financial Inc lifted its position in Suburban Propane Partners by 16.5% during 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 during the last quarter. Sigma Planning Corp lifted its position 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 acquiring an additional 616 shares during the last quarter. Private Advisor Group LLC lifted its position in Suburban Propane Partners by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 54,639 shares of the energy company’s stock worth $970,000 after acquiring an additional 1,200 shares during the last quarter. Archer Investment Corp lifted its position 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 acquiring an additional 4,003 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Suburban Propane Partners by 7.5% during the 3rd quarter. Federated Hermes Inc. now owns 105,706 shares of the energy company’s stock worth $1,697,000 after acquiring an additional 7,340 shares during the last quarter. Institutional investors and hedge funds own 30.94% of the company’s stock.

Suburban Propane Partners Stock Down 0.8 %

SPH stock opened at $19.69 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.52 and a debt-to-equity ratio of 2.26. Suburban Propane Partners has a 1 year low of $14.42 and a 1 year high of $22.33. The company has a fifty day simple moving average of $20.29 and a 200 day simple moving average of $18.65. The firm has a market cap of $1.26 billion, a PE ratio of 12.38 and a beta of 0.43.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings data on Thursday, February 8th. The energy company reported $0.38 earnings per share (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 during the quarter.

Suburban Propane Partners Dividend Announcement

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

Analyst Ratings Changes

SPH has been the topic of several research analyst reports. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report 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 report on Monday, January 29th.

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 in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.