MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $89.28 Million Stake 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. boosted its stake in Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 about 6.59% of Suburban Propane Partners worth $89,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SPH. Farther Finance Advisors LLC increased 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 valued at $29,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Suburban Propane Partners during the first quarter valued at $49,000. Wood Tarver Financial Group LLC bought a new stake in Suburban Propane Partners during the fourth quarter valued at $120,000. Vivaldi Capital Management LP bought a new stake in Suburban Propane Partners during the fourth quarter valued at $176,000. Finally, Secure Asset Management LLC bought a new stake in Suburban Propane Partners during the first quarter valued at $205,000. 30.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Suburban Propane Partners Price Performance

SPH stock opened at $18.43 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of 12.45 and a beta of 0.21. The company's 50-day moving average is $18.44 and its 200-day moving average is $19.39. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.70 and a quick ratio of 0.46. Suburban Propane Partners, L.P. has a 1 year low of $16.92 and a 1 year high of $22.24.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.06). The company 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Tuesday, August 5th. Suburban Propane Partners's dividend payout ratio is 87.84%.

Suburban Propane Partners Company 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.

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