Suburban Propane Partners (NYSE:SPH) Issues Quarterly Earnings Results

Key Points

• Suburban Propane Partners reported a quarterly EPS of ($0.23), missing analysts' estimates of ($0.17) by ($0.06), with revenue also falling short at $260.15 million.
• The company announced a quarterly dividend of $0.325, translating to an annualized dividend of $1.30 and a yield of 7.3%, with a dividend payout ratio of 87.84%.
• After the earnings announcement, Suburban Propane Partners' stock rose by 2.6%, closing at $17.93 with a market capitalization of $1.16 billion.

Suburban Propane Partners (NYSE:SPH - Get Free Report) announced its earnings results on Thursday, August 7th. The energy company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.06), Zacks reports. Suburban Propane Partners had a return on equity of 16.12% and a net margin of 6.79%. The firm had revenue of $260.15 million during the quarter, compared to analyst estimates of $270.00 million.

Suburban Propane Partners Stock Down 0.6%

Shares of NYSE SPH traded down $0.11 during mid-day trading on Thursday, reaching $18.60. The company had a trading volume of 123,807 shares, compared to its average volume of 152,263. The stock has a fifty day moving average of $18.45 and a two-hundred day moving average of $19.69. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.46 and a current ratio of 0.70. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.57 and a beta of 0.19. Suburban Propane Partners has a 12-month low of $16.63 and a 12-month high of $22.24.

Suburban Propane Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Suburban Propane Partners's dividend payout ratio is 87.84%.

Insider Activity

In other news, Director Harold R. Logan, Jr. sold 6,900 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $19.14, for a total value of $132,066.00. Following the completion of the sale, the director directly owned 39,227 shares of the company's stock, valued at $750,804.78. This represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Suburban Propane Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised 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 acquiring an additional 142,547 shares in the last quarter. Jane Street Group LLC bought a new position in Suburban Propane Partners during the second quarter valued at approximately $2,278,000. Finally, Invesco Ltd. raised its position in Suburban Propane Partners by 8.1% during the second quarter. Invesco Ltd. now owns 46,545 shares of the energy company's stock valued at $862,000 after acquiring an additional 3,479 shares in the last quarter. Institutional investors own 30.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.