Suburban Propane Partners, L.P. (NYSE:SPH) Sees Large Drop in Short Interest

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 794,200 shares, a drop of 17.9% from the April 30th total of 967,800 shares. Currently, 1.3% of the company's shares are sold short. Based on an average daily volume of 186,200 shares, the days-to-cover ratio is currently 4.3 days.

Suburban Propane Partners Stock Performance

Shares of Suburban Propane Partners stock traded down $0.82 during trading on Wednesday, hitting $18.31. 158,299 shares of the company's stock were exchanged, compared to its average volume of 194,325. The business has a 50-day simple moving average of $19.87 and a 200-day simple moving average of $19.70. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.51 and a current ratio of 0.70. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 17.27 and a beta of 0.18. Suburban Propane Partners has a 52-week low of $15.20 and a 52-week high of $22.24.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy company reported $2.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.11). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.81%. The company had revenue of $587.66 million for the quarter, compared to analysts' expectations of $548.00 million.

Suburban Propane Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 7.10%. The ex-dividend date of this dividend was Tuesday, May 6th. Suburban Propane Partners's dividend payout ratio is currently 90.28%.

Insiders Place Their Bets

In other news, Director Harold R. Logan, Jr. sold 6,900 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $19.14, for a total value of $132,066.00. Following the completion of the transaction, the director now directly owns 39,227 shares in the company, valued at $750,804.78. This trade represents a 14.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Douglas Brinkworth sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $20.50, for a total transaction of $41,000.00. Following the completion of the transaction, the senior vice president now owns 159,355 shares in the company, valued at approximately $3,266,777.50. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPH. Alps Advisors Inc. increased its holdings in shares of Suburban Propane Partners by 16.7% in the first quarter. Alps Advisors Inc. now owns 14,142,616 shares of the energy company's stock valued at $297,136,000 after purchasing an additional 2,018,820 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Suburban Propane Partners by 24.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,249,304 shares of the energy company's stock valued at $89,278,000 after purchasing an additional 845,076 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Suburban Propane Partners during the 4th quarter worth $24,340,000. Goldman Sachs Group Inc. increased its position in shares of Suburban Propane Partners by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company's stock worth $28,795,000 after purchasing an additional 142,547 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Suburban Propane Partners by 6.2% in the 4th quarter. JPMorgan Chase & Co. now owns 684,155 shares of the energy company's stock valued at $11,767,000 after buying an additional 40,239 shares during the period. Institutional investors and hedge funds own 30.94% of the company's stock.

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.