Short Interest in Suburban Propane Partners, L.P. (NYSE:SPH) Expands By 51.0%

Key Points

• Suburban Propane Partners, L.P. experienced a 51.0% increase in short interest in August, with total short interest reaching 652,100 shares as of August 15th.
• The company reported a net loss of $0.23 per share for the quarter, missing analysts' expectations, and revenue was also below forecasts at $260.15 million.
• Despite a quarterly dividend payment of $0.325 per share, the company's dividend payout ratio stands at an elevated 87.84%, indicating a significant share of profits distributed to shareholders.

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 652,100 shares, a growth of 51.0% from the July 31st total of 431,900 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 150,600 shares, the days-to-cover ratio is presently 4.3 days. Based on an average trading volume of 150,600 shares, the days-to-cover ratio is presently 4.3 days. Currently, 1.0% of the shares of the stock are short sold.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock traded down $0.18 during midday trading on Friday, reaching $18.45. 111,311 shares of the company were exchanged, compared to its average volume of 88,853. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 12.47 and a beta of 0.21. The firm's 50-day simple moving average is $18.45 and its 200-day simple moving average is $19.28. Suburban Propane Partners has a 1 year low of $16.92 and a 1 year high of $22.24. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.46 and a current ratio of 0.70.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported ($0.23) 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 analysts' expectations 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 firm also recently declared 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 presently 87.84%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Suburban Propane Partners

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in Suburban Propane Partners by 275.5% in the 1st quarter. Farther Finance Advisors LLC now owns 1,363 shares of the energy company's stock worth $29,000 after buying an additional 1,000 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in Suburban Propane Partners in the 2nd quarter worth about $36,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Suburban Propane Partners in the 1st quarter worth about $49,000. Trust Co. of Toledo NA OH acquired a new stake in Suburban Propane Partners in the 2nd quarter worth about $103,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Suburban Propane Partners in the 4th quarter worth about $120,000. 30.94% of the stock is owned by institutional investors and hedge funds.

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.