Alps Advisors Inc. Buys 2,018,820 Shares of Suburban Propane Partners, L.P. (NYSE:SPH)

Alps Advisors Inc. increased its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,142,616 shares of the energy company's stock after acquiring an additional 2,018,820 shares during the period. Suburban Propane Partners comprises approximately 1.7% of Alps Advisors Inc.'s portfolio, making the stock its 12th biggest holding. Alps Advisors Inc. owned about 21.93% of Suburban Propane Partners worth $297,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPH. Farther Finance Advisors LLC boosted its holdings in Suburban Propane Partners by 275.5% in the first quarter. Farther Finance Advisors LLC now owns 1,363 shares of the energy company's stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Suburban Propane Partners by 6.2% during the fourth quarter. JPMorgan Chase & Co. now owns 684,155 shares of the energy company's stock valued at $11,767,000 after buying an additional 40,239 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Suburban Propane Partners by 5.0% in the 4th quarter. Cetera Investment Advisers now owns 61,977 shares of the energy company's stock worth $1,066,000 after acquiring an additional 2,941 shares during the period. Raymond James Financial Inc. acquired a new stake in Suburban Propane Partners during the fourth quarter worth $3,474,000. Finally, Corient Private Wealth LLC bought a new stake in Suburban Propane Partners in the fourth quarter valued at about $251,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Price Performance

Shares of SPH traded down $0.05 during mid-day trading on Friday, reaching $18.50. The company had a trading volume of 81,152 shares, compared to its average volume of 197,677. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.06 and a quick ratio of 0.81. The company's 50-day moving average is $18.81 and its 200-day moving average is $19.71. 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 market capitalization of $1.20 billion, a P/E ratio of 12.85 and a beta of 0.16.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy company reported $2.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.21 by ($0.11). The firm had revenue of $587.66 million during the quarter, compared to the consensus estimate of $548.00 million. Suburban Propane Partners had a net margin of 6.65% and a return on equity of 15.98%.

Suburban Propane Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.30 annualized dividend and a dividend yield of 7.03%. Suburban Propane Partners's dividend payout ratio (DPR) is currently 90.28%.

Insider Activity at Suburban Propane Partners

In related news, Director Harold R. Logan, Jr. sold 6,900 shares of Suburban Propane Partners stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $19.14, for a total value of $132,066.00. Following the completion of the sale, the director directly owned 39,227 shares in the company, valued at $750,804.78. This trade represents a 14.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

About Suburban Propane Partners

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.