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

Key Points

• Suburban Propane Partners declared a quarterly dividend of $0.33, scheduled for payment on November 11th to shareholders of record on November 4th, representing an annualized yield of 6.8%.
• The company reported a loss of $0.23 per share for the last quarter, missing earnings expectations, with revenues totaling $260.15 million against projections of $270 million.
• Institutional investors recently increased their stakes in Suburban Propane Partners, raising the percentage owned by hedge funds and other entities to 30.94%.

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Shareholders of record on Tuesday, November 4th will be paid a dividend of 0.325 per share by the energy company on Tuesday, November 11th. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date is Tuesday, November 4th.

Suburban Propane Partners has a payout ratio of 76.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall.

Suburban Propane Partners Stock Up 0.2%

SPH stock traded up $0.04 during midday trading on Thursday, hitting $19.00. The company's stock had a trading volume of 53,119 shares, compared to its average volume of 178,190. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90. Suburban Propane Partners has a 52-week low of $16.92 and a 52-week high of $22.24. The firm has a market capitalization of $1.24 billion, a P/E ratio of 12.84 and a beta of 0.32. The firm has a 50-day simple moving average of $18.54 and a 200-day simple moving average of $18.86.

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 the consensus estimate of ($0.17) by ($0.06). The firm had revenue of $260.15 million for the quarter, compared to analysts' expectations of $270.00 million. Suburban Propane Partners had a return on equity of 16.12% and a net margin of 6.79%.

Institutional Investors Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position 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 acquiring an additional 1,000 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in Suburban Propane Partners in the second quarter valued at $36,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Suburban Propane Partners in the 1st quarter valued at $49,000. Geneos Wealth Management Inc. increased its holdings in shares of Suburban Propane Partners by 37.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,650 shares of the energy company's stock valued at $68,000 after acquiring an additional 1,000 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new stake in Suburban Propane Partners in the 2nd quarter valued at $103,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

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.

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