Suburban Propane Partners, L.P. $SPH Shares Sold by State of Wyoming

State of Wyoming cut its holdings in Suburban Propane Partners, L.P. (NYSE:SPH) by 77.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,243 shares of the energy company’s stock after selling 10,923 shares during the quarter. State of Wyoming’s holdings in Suburban Propane Partners were worth $68,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Summit Financial LLC grew its position in shares of Suburban Propane Partners by 2.0% in the first quarter. Summit Financial LLC now owns 54,049 shares of the energy company’s stock valued at $1,136,000 after purchasing an additional 1,044 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in Suburban Propane Partners during the first quarter worth approximately $430,000. HighTower Advisors LLC acquired a new stake in Suburban Propane Partners during the first quarter worth approximately $220,000. Commerce Bank acquired a new stake in Suburban Propane Partners during the first quarter worth approximately $249,000. Finally, Avantax Advisory Services Inc. boosted its position in Suburban Propane Partners by 3.6% during the first quarter. Avantax Advisory Services Inc. now owns 23,568 shares of the energy company’s stock worth $495,000 after acquiring an additional 818 shares during the last quarter. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Suburban Propane Partners Stock Down 0.5%

Shares of SPH opened at $18.32 on Tuesday. The firm has a market cap of $1.20 billion, a PE ratio of 12.38 and a beta of 0.21. The company’s fifty day moving average is $18.44 and its two-hundred day moving average is $19.32. Suburban Propane Partners, L.P. has a fifty-two week low of $16.92 and a fifty-two week high of $22.24. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90.

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

Suburban Propane Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Tuesday, August 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is 87.84%.

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.