20,489 Shares in Suburban Propane Partners, L.P. $SPH Acquired by Ethos Financial Group LLC

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 position in Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,489 shares of the energy company's stock, valued at approximately $430,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of 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 during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Suburban Propane Partners in the first quarter worth $49,000. NewEdge Advisors LLC increased its position in shares of Suburban Propane Partners by 45.9% in the fourth 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 period. Wood Tarver Financial Group LLC bought a new position in shares of Suburban Propane Partners in the fourth quarter worth $120,000. Finally, Vivaldi Capital Management LP bought a new position in Suburban Propane Partners in the fourth quarter valued at about $176,000. Institutional investors own 30.94% of the company's stock.

Suburban Propane Partners Trading Up 0.8%

Shares of NYSE:SPH traded up $0.1450 during midday trading on Friday, hitting $18.6650. 98,166 shares of the stock were exchanged, compared to its average volume of 154,521. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.61 and a beta of 0.19. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.46 and a current ratio of 0.70. The business's 50-day moving average price is $18.49 and its 200 day moving average price is $19.58. 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 released its quarterly earnings results on Thursday, August 7th. The energy company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.06). The firm had revenue of $260.15 million for 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 Announces Dividend

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut Suburban Propane Partners from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Suburban Propane Partners has an average rating of "Sell" and an average price target of $17.00.

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.