Invesco Ltd. Sells 10,704 Shares of Suburban Propane Partners, L.P. $SPH

Invesco Ltd. lessened its stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,066 shares of the energy company’s stock after selling 10,704 shares during the quarter. Invesco Ltd. owned approximately 0.07% of Suburban Propane Partners worth $905,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPH. Alps Advisors Inc. raised its stake in shares of Suburban Propane Partners by 16.7% during the 1st quarter. Alps Advisors Inc. now owns 14,142,616 shares of the energy company’s stock worth $297,136,000 after acquiring an additional 2,018,820 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Suburban Propane Partners by 1.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,404,228 shares of the energy company’s stock worth $58,553,000 after purchasing an additional 33,560 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Suburban Propane Partners during the fourth quarter worth $212,000. Commerce Bank purchased a new stake in shares of Suburban Propane Partners during the 1st quarter valued at $249,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Suburban Propane Partners during the first quarter worth about $217,000. 30.94% of the stock is owned by institutional investors.

Suburban Propane Partners Stock Performance

Shares of Suburban Propane Partners stock opened at $18.44 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90. The firm has a market cap of $1.21 billion, a PE ratio of 12.46 and a beta of 0.21. The business’s fifty day simple moving average is $18.45 and its 200-day simple moving average is $19.44. Suburban Propane Partners, L.P. has a 52 week low of $16.92 and a 52 week high of $22.24.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, August 7th. The energy company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Suburban Propane Partners had a net margin of 6.79% and a return on equity of 16.12%. The business had revenue of $260.15 million during the quarter, compared to analysts’ expectations of $270.00 million.

Suburban Propane Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Tuesday, August 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 87.84%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 9th.

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.