MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Position in Suburban Propane Partners, L.P. $SPH

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Suburban Propane Partners, L.P. by 24.8%, owning approximately 6.59% of the company valued at $89.28 million.
• Suburban Propane Partners reported a loss of ($0.23) earnings per share for the last quarter, missing estimates of ($0.17), with total revenue of $260.15 million.
• The company declared a quarterly dividend of $0.325 per share, resulting in a 7.1% dividend yield based on an annualized basis.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,249,304 shares of the energy company's stock after purchasing an additional 845,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 6.59% of Suburban Propane Partners worth $89,278,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Avantax Advisory Services Inc. grew its position in Suburban Propane Partners by 3.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 23,568 shares of the energy company's stock worth $495,000 after purchasing an additional 818 shares during the period. Farther Finance Advisors LLC grew its position in Suburban Propane Partners by 275.5% during 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 period. Summit Financial LLC grew its position in Suburban Propane Partners by 2.0% during the 1st quarter. Summit Financial LLC now owns 54,049 shares of the energy company's stock worth $1,136,000 after purchasing an additional 1,044 shares during the period. Janney Montgomery Scott LLC grew its position in Suburban Propane Partners by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 50,472 shares of the energy company's stock worth $1,060,000 after purchasing an additional 1,338 shares during the period. Finally, Wealthstar Advisors LLC grew its position in shares of Suburban Propane Partners by 5.9% during the 1st quarter. Wealthstar Advisors LLC now owns 34,136 shares of the energy company's stock valued at $717,000 after acquiring an additional 1,903 shares during the period. 30.94% of the stock is owned by institutional investors and hedge funds.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock traded up $0.22 during midday trading on Thursday, reaching $18.59. The company had a trading volume of 36,127 shares, compared to its average volume of 191,025. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.70 and a quick ratio of 0.46. The firm's fifty day simple moving average is $18.45 and its 200-day simple moving average is $19.31. Suburban Propane Partners, L.P. has a 12-month low of $16.92 and a 12-month high of $22.24. The company has a market capitalization of $1.22 billion, a P/E ratio of 12.56 and a beta of 0.21.

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

Suburban Propane Partners Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.