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

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) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 652,100 shares, agrowthof51.0% from the July 31st total of 431,900 shares. 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 company's shares are short sold. Currently,1.0% of the company's shares are short sold. Based on an average trading volume of 150,600 shares, the days-to-cover ratio is presently 4.3 days.

Wall Street Analysts Forecast Growth

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

Suburban Propane Partners Stock Down 0.0%

Shares of NYSE:SPH traded down $0.01 during mid-day trading on Friday, hitting $18.43. 108,351 shares of the company traded hands, compared to its average volume of 107,506. The stock has a 50-day moving average price of $18.44 and a two-hundred day moving average price of $19.35. The company has a current ratio of 0.70, a quick ratio of 0.46 and a debt-to-equity ratio of 1.90. Suburban Propane Partners has a 12-month low of $16.92 and a 12-month high of $22.24. The stock has a market cap of $1.21 billion, a P/E ratio of 12.45 and a beta of 0.21.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Suburban Propane Partners had a return on equity of 16.12% and a net margin of 6.79%.The business had revenue of $260.15 million during the quarter, compared to analysts' expectations of $270.00 million.

Suburban Propane Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.30 annualized dividend and a yield of 7.1%. Suburban Propane Partners's dividend payout ratio is 87.84%.

Institutional Investors Weigh In On Suburban Propane Partners

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in shares of Suburban Propane Partners by 275.5% during the 1st 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. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Suburban Propane Partners in the 2nd quarter valued at approximately $36,000. Whittier Trust Co. of Nevada Inc. bought a new position in Suburban Propane Partners during the 1st quarter valued at approximately $49,000. Trust Co. of Toledo NA OH bought a new position in Suburban Propane Partners during the 2nd quarter valued at approximately $103,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Suburban Propane Partners in the fourth quarter worth $120,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

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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