Blackstone Inc. Sells 18,434 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Blackstone Inc. reduced its holdings in Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 412,061 shares of the energy company's stock after selling 18,434 shares during the quarter. Blackstone Inc. owned about 0.64% of Suburban Propane Partners worth $7,087,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Suburban Propane Partners in the 4th quarter worth $24,340,000. Raymond James Financial Inc. acquired a new stake in Suburban Propane Partners during the fourth quarter worth about $3,474,000. JPMorgan Chase & Co. raised its holdings in Suburban Propane Partners by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company's stock valued at $11,552,000 after acquiring an additional 155,360 shares in the last quarter. Wealthstar Advisors LLC bought a new stake in shares of Suburban Propane Partners during the fourth quarter valued at approximately $554,000. Finally, Lido Advisors LLC raised its stake in shares of Suburban Propane Partners by 13.0% in the 4th quarter. Lido Advisors LLC now owns 169,837 shares of the energy company's stock valued at $2,921,000 after buying an additional 19,532 shares in the last quarter. 30.94% of the stock is currently owned by institutional investors.

Suburban Propane Partners Price Performance

Shares of Suburban Propane Partners stock opened at $20.42 on Tuesday. The firm has a market cap of $1.32 billion, a P/E ratio of 19.26 and a beta of 0.22. The firm's 50-day simple moving average is $20.47 and its 200-day simple moving average is $19.61. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.24. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.51 and a current ratio of 0.70.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The energy company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.81%. During the same period last year, the company earned $0.38 EPS.

Suburban Propane Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $1.30 annualized dividend and a yield of 6.37%. Suburban Propane Partners's dividend payout ratio is currently 122.64%.

Insider Buying and Selling at Suburban Propane Partners

In related news, SVP Douglas Brinkworth sold 2,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $20.50, for a total transaction of $41,000.00. Following the completion of the sale, the senior vice president now owns 159,355 shares in the company, valued at $3,266,777.50. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael A. Schueler sold 7,746 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total transaction of $162,123.78. Following the completion of the transaction, the vice president now owns 11,133 shares in the company, valued at approximately $233,013.69. This trade represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.