Osaic Holdings Inc. Grows Stock Position in Suburban Propane Partners, L.P. $SPH

Osaic Holdings Inc. boosted its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 88.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,748 shares of the energy company’s stock after buying an additional 28,921 shares during the quarter. Osaic Holdings Inc. owned 0.09% of Suburban Propane Partners worth $1,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming lifted its holdings in shares of Suburban Propane Partners by 734.2% in the 2nd quarter. State of Wyoming now owns 27,053 shares of the energy company’s stock worth $501,000 after acquiring an additional 23,810 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Suburban Propane Partners by 101.2% in the second quarter. Corient Private Wealth LLC now owns 29,176 shares of the energy company’s stock worth $541,000 after purchasing an additional 14,674 shares during the last quarter. Bank of America Corp DE lifted its stake in Suburban Propane Partners by 65.7% in the second quarter. Bank of America Corp DE now owns 98,158 shares of the energy company’s stock worth $1,819,000 after purchasing an additional 38,937 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Suburban Propane Partners during the second quarter valued at approximately $2,278,000. Finally, Invesco Ltd. grew its stake in shares of Suburban Propane Partners by 8.1% during the second quarter. Invesco Ltd. now owns 46,545 shares of the energy company’s stock valued at $862,000 after buying an additional 3,479 shares during the last quarter. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Suburban Propane Partners in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Suburban Propane Partners Stock Performance

Shares of NYSE:SPH opened at $18.53 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of 11.30 and a beta of 0.39. The firm’s 50 day simple moving average is $18.82 and its 200-day simple moving average is $18.63. Suburban Propane Partners, L.P. has a one year low of $16.94 and a one year high of $22.24. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.31 and a current ratio of 0.55.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, November 13th. The energy company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The firm had revenue of $211.38 million during the quarter, compared to analysts’ expectations of $227.00 million. Suburban Propane Partners had a net margin of 7.44% and a return on equity of 16.31%.

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 11th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.0%. Suburban Propane Partners’s dividend payout ratio is presently 79.27%.

About Suburban Propane Partners

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.