Suburban Propane Partners, L.P. Announces Quarterly Dividend of $0.33 (NYSE:SPH)

Key Points

• Suburban Propane Partners declared a quarterly dividend of $0.325 per share, payable on August 11 to shareholders of record on August 4. The dividend implies an annualized yield of about 7.1%.
• The company’s dividend remains supported by earnings, with a 76.5% payout ratio and analysts expecting it to earn enough next year to cover the annual dividend. Suburban Propane has also posted only a slight average dividend decline over the past three years.
• Operationally, Suburban Propane recently beat EPS estimates for its latest quarter, reporting $2.06 per share versus the $1.74 consensus, though revenue came in below expectations. The stock was trading around $18.32 and has a market cap of about $1.22 billion.

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Tuesday, August 4th will be paid a dividend of 0.325 per share by the energy company on Tuesday, August 11th. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Tuesday, August 4th.

Suburban Propane Partners has decreased its dividend by an average of 0.1%per year over the last three years. Suburban Propane Partners has a payout ratio of 76.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Suburban Propane Partners to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 65.0%.

Suburban Propane Partners Stock Performance

Suburban Propane Partners stock traded down $0.14 during midday trading on Thursday, reaching $18.32. The stock had a trading volume of 125,935 shares, compared to its average volume of 162,520. Suburban Propane Partners has a 12 month low of $16.53 and a 12 month high of $20.80. The firm's 50-day moving average price is $18.51 and its 200 day moving average price is $19.35. The firm has a market capitalization of $1.22 billion, a PE ratio of 9.21 and a beta of 0.42. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.69.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The energy company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.74 by $0.32. The business had revenue of $551.21 million for the quarter, compared to the consensus estimate of $575.00 million. Suburban Propane Partners had a net margin of 9.57% and a return on equity of 19.45%. As a group, research analysts predict that Suburban Propane Partners will post 2.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in Suburban Propane Partners by 11.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company's stock valued at $28,795,000 after purchasing an additional 142,547 shares during the last quarter. Invesco Ltd. grew its stake in Suburban Propane Partners by 8.1% in the 2nd quarter. Invesco Ltd. now owns 46,545 shares of the energy company's stock worth $862,000 after buying an additional 3,479 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Suburban Propane Partners in the 2nd quarter worth $2,278,000. Bank of America Corp DE increased its holdings in shares of Suburban Propane Partners by 65.7% in the 2nd quarter. Bank of America Corp DE now owns 98,158 shares of the energy company's stock worth $1,819,000 after buying an additional 38,937 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Suburban Propane Partners by 101.2% during the 2nd quarter. Corient Private Wealth LLC now owns 29,176 shares of the energy company's stock valued at $541,000 after buying an additional 14,674 shares in the last quarter. 30.94% of the stock is owned by institutional investors.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. NYSE: SPH is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers' energy needs.

The company's core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.

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