Ethos Financial Group LLC Takes Position in Suburban Propane Partners, L.P. $SPH

Key Points

• Ethos Financial Group LLC purchased 20,489 shares of Suburban Propane Partners, valued at approximately $430,000, marking a significant entry into the company.
• Suburban Propane Partners reported a loss of $0.23 EPS, missing estimates and totaling revenue of $260.15 million for the recent quarter.
• The company recently declared a quarterly dividend of $0.325, translating to an annualized yield of 7.0%, amidst a payout ratio of 87.84%.

Ethos Financial Group LLC purchased a new stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,489 shares of the energy company's stock, valued at approximately $430,000.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in Suburban Propane Partners by 275.5% in the 1st 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 during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Suburban Propane Partners in the 1st quarter worth approximately $49,000. NewEdge Advisors LLC lifted its holdings in Suburban Propane Partners by 45.9% in the 4th quarter. NewEdge Advisors LLC now owns 4,650 shares of the energy company's stock worth $80,000 after purchasing an additional 1,462 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Suburban Propane Partners in the 4th quarter worth approximately $120,000. Finally, Vivaldi Capital Management LP acquired a new stake in Suburban Propane Partners in the 4th quarter worth approximately $176,000. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Suburban Propane Partners Stock Performance

Shares of NYSE SPH opened at $18.49 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90. The business's 50 day moving average is $18.45 and its two-hundred day moving average is $19.66. The company has a market cap of $1.21 billion, a P/E ratio of 12.49 and a beta of 0.19. Suburban Propane Partners, L.P. has a 12 month low of $16.92 and a 12 month high of $22.24.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.06). The business had revenue of $260.15 million during the quarter, compared to the consensus estimate of $270.00 million. Suburban Propane Partners had a return on equity of 16.12% and a net margin of 6.79%.

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Suburban Propane Partners's payout ratio is currently 87.84%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Suburban Propane Partners from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Insider Buying and Selling

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 6,900 shares of Suburban Propane Partners stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $19.14, for a total value of $132,066.00. Following the transaction, the director directly owned 39,227 shares of the company's stock, valued at $750,804.78. The trade was a 14.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

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.