Suburban Propane Partners, L.P. $SPH Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. increased its holdings in Suburban Propane Partners, L.P. (NYSE:SPH) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,327,026 shares of the energy company’s stock after acquiring an additional 433,748 shares during the period. Suburban Propane Partners makes up about 1.5% of Alps Advisors Inc.’s holdings, making the stock its 13th largest holding. Alps Advisors Inc. owned approximately 21.88% of Suburban Propane Partners worth $267,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPH. PNC Financial Services Group Inc. boosted its stake in Suburban Propane Partners by 1.6% during the second quarter. PNC Financial Services Group Inc. now owns 45,354 shares of the energy company’s stock worth $840,000 after buying an additional 708 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Suburban Propane Partners by 37.7% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock worth $68,000 after purchasing an additional 1,000 shares during the period. Jones Financial Companies Lllp lifted its stake in Suburban Propane Partners by 11.6% during the third quarter. Jones Financial Companies Lllp now owns 9,809 shares of the energy company’s stock worth $182,000 after purchasing an additional 1,023 shares in the last quarter. Ethos Financial Group LLC boosted its position in shares of Suburban Propane Partners by 6.6% during the second quarter. Ethos Financial Group LLC now owns 21,833 shares of the energy company’s stock worth $405,000 after buying an additional 1,344 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Suburban Propane Partners by 6.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,300 shares of the energy company’s stock worth $487,000 after acquiring an additional 1,600 shares in the last quarter. 30.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Suburban Propane Partners in a research note on Wednesday, January 21st. Argus upgraded shares of Suburban Propane Partners to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Suburban Propane Partners to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Suburban Propane Partners Stock Down 2.1%

Shares of NYSE SPH opened at $19.71 on Friday. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 9.71 and a beta of 0.42. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.55 and a quick ratio of 0.31. The business has a 50-day moving average of $19.15 and a two-hundred day moving average of $18.78. Suburban Propane Partners, L.P. has a 1 year low of $17.30 and a 1 year high of $22.24.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.16. The business had revenue of $370.39 million for the quarter, compared to analyst estimates of $392.00 million. Suburban Propane Partners had a return on equity of 19.84% and a net margin of 9.30%.

Suburban Propane Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Tuesday, February 3rd. Suburban Propane Partners’s payout ratio is currently 64.04%.

Suburban Propane Partners Profile

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.