58,634 Shares in Suburban Propane Partners, L.P. $SPH Acquired by SageGuard Financial Group LLC

Key Points

• SageGuard Financial Group LLC acquired a new position of 58,634 shares in Suburban Propane Partners (NYSE: SPH) in Q4, valued at about $1.09 million and representing roughly 0.09% ownership.
• Suburban Propane beat EPS estimates (reported $0.69 vs. $0.53 expected) but missed revenue expectations, and it recently paid a quarterly dividend of $0.325 (annualized $1.30) for a yield of about 6.9%.
• Analyst sentiment is positive overall, with Argus upgrading to a "strong-buy" and Weiss to a "buy" while Zacks rates the stock a hold, leaving an average MarketBeat rating of Buy.

SageGuard Financial Group LLC acquired a new position in Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 58,634 shares of the energy company's stock, valued at approximately $1,087,000. SageGuard Financial Group LLC owned about 0.09% of Suburban Propane Partners at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPH. Goldman Sachs Group Inc. increased its position in Suburban Propane Partners by 11.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company's stock worth $28,795,000 after purchasing an additional 142,547 shares during the period. Invesco Ltd. increased its position in Suburban Propane Partners by 8.1% in the second quarter. Invesco Ltd. now owns 46,545 shares of the energy company's stock worth $862,000 after purchasing an additional 3,479 shares during the period. Jane Street Group LLC bought a new position in Suburban Propane Partners in the second quarter valued at approximately $2,278,000. Bank of America Corp DE boosted 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 valued at $1,819,000 after acquiring an additional 38,937 shares during the last quarter. Finally, Corient Private Wealth LLC boosted 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 valued at $541,000 after acquiring an additional 14,674 shares during the last quarter. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Argus raised shares of Suburban Propane Partners to a "strong-buy" rating in a research note on Wednesday, January 21st. Weiss Ratings raised Suburban Propane Partners from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised Suburban Propane Partners to a "hold" rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Suburban Propane Partners currently has an average rating of "Buy".

Suburban Propane Partners Stock Down 0.5%

Shares of NYSE:SPH opened at $18.77 on Tuesday. The company has a 50 day moving average price of $20.13 and a two-hundred day moving average price of $19.37. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.61 and a current ratio of 0.87. The company has a market capitalization of $1.24 billion, a PE ratio of 9.25 and a beta of 0.44. Suburban Propane Partners, L.P. has a 52 week low of $17.30 and a 52 week high of $20.80.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The energy company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.16. The company had revenue of $370.39 million for the quarter, compared to analysts' expectations of $392.00 million. Suburban Propane Partners had a net margin of 9.30% and a return on equity of 19.94%. Analysts forecast that Suburban Propane Partners, L.P. will post 1.8 earnings per share for the current year.

Suburban Propane Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Tuesday, February 3rd. Suburban Propane Partners's dividend payout ratio (DPR) 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.

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