Wealth Enhancement Advisory Services LLC Reduces Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 20.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,603 shares of the energy company’s stock after selling 4,722 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Suburban Propane Partners were worth $391,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Farther Finance Advisors LLC boosted its position in shares of Suburban Propane Partners by 275.5% during the first quarter. Farther Finance Advisors LLC now owns 1,363 shares of the energy company’s stock valued at $29,000 after buying an additional 1,000 shares during the period. Secure Asset Management LLC purchased a new position in shares of Suburban Propane Partners during the first quarter valued at approximately $205,000. Wood Tarver Financial Group LLC purchased a new position in shares of Suburban Propane Partners during the fourth quarter valued at approximately $120,000. Vivaldi Capital Management LP purchased a new position in shares of Suburban Propane Partners during the fourth quarter valued at approximately $176,000. Finally, Tidal Investments LLC purchased a new position in shares of Suburban Propane Partners during the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Stock Up 0.5%

Shares of NYSE SPH opened at $18.38 on Monday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.81 and a current ratio of 1.06. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 12.76 and a beta of 0.16. The stock has a 50 day moving average price of $19.00 and a 200 day moving average price of $19.67. Suburban Propane Partners, L.P. has a 52-week low of $15.20 and a 52-week high of $22.24.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, May 8th. The energy company reported $2.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.11). The firm had revenue of $587.66 million during the quarter, compared to analysts’ expectations of $548.00 million. Suburban Propane Partners had a net margin of 6.65% and a return on equity of 15.98%.

Suburban Propane Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.325 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.07%. Suburban Propane Partners’s payout ratio is 90.28%.

Insider Activity

In related news, Director Harold R. Logan, Jr. sold 6,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $19.14, for a total value of $132,066.00. Following the completion of the sale, the director owned 39,227 shares in the company, valued at approximately $750,804.78. The trade was a 14.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

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.