Bowen Hanes & Co. Inc. Raises Position in Suburban Propane Partners, L.P. $SPH

Bowen Hanes & Co. Inc. raised its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 24.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,016,000 shares of the energy company’s stock after buying an additional 200,000 shares during the period. Bowen Hanes & Co. Inc. owned about 1.55% of Suburban Propane Partners worth $18,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in shares of Suburban Propane Partners by 37.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company’s stock valued at $68,000 after acquiring an additional 1,000 shares during the last quarter. Root Financial Partners LLC purchased a new position in Suburban Propane Partners in the 3rd quarter worth approximately $76,000. Jones Financial Companies Lllp boosted its stake in shares of 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 valued at $182,000 after purchasing an additional 1,023 shares during the period. Allworth Financial LP grew its holdings in shares of Suburban Propane Partners by 44.7% in the second quarter. Allworth Financial LP now owns 11,514 shares of the energy company’s stock worth $213,000 after purchasing an additional 3,557 shares during the last quarter. Finally, Secure Asset Management LLC bought a new position in shares of Suburban Propane Partners in the third quarter worth approximately $225,000. 30.94% of the stock is owned by institutional investors.

Suburban Propane Partners Stock Down 0.7%

Shares of NYSE SPH opened at $20.29 on Friday. The firm has a fifty day simple moving average of $19.36 and a two-hundred day simple moving average of $18.89. Suburban Propane Partners, L.P. has a 12 month low of $17.30 and a 12 month high of $22.00. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.00 and a beta of 0.42.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.16. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. The company had revenue of $370.39 million for the quarter, compared to analysts’ expectations of $392.00 million.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Tuesday, February 3rd. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 64.04%.

Wall Street Analysts Forecast Growth

SPH has been the subject of several analyst reports. Argus raised shares of Suburban Propane Partners to a “strong-buy” rating in a research report on Wednesday, January 21st. Zacks Research raised shares of Suburban Propane Partners to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Suburban Propane Partners presently has an average rating of “Buy”.

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.