Suburban Propane Partners (NYSE:SPH) Announces Earnings Results, Misses Estimates By $0.06 EPS

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) issued its quarterly earnings data on Thursday. The energy company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.06), Zacks reports. The firm had revenue of $260.15 million for the quarter, compared to analyst estimates of $270.00 million. Suburban Propane Partners had a net margin of 6.79% and a return on equity of 16.52%.

Suburban Propane Partners Stock Up 2.6%

Shares of Suburban Propane Partners stock traded up $0.46 on Friday, hitting $17.93. The company had a trading volume of 251,352 shares, compared to its average volume of 120,609. The firm has a market capitalization of $1.16 billion, a P/E ratio of 12.11 and a beta of 0.19. Suburban Propane Partners has a twelve month low of $16.42 and a twelve month high of $22.24. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.06 and a quick ratio of 0.81. The stock has a 50-day moving average of $18.48 and a 200-day moving average of $19.71.

Suburban Propane Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Tuesday, August 5th. Suburban Propane Partners's dividend payout ratio is 87.84%.

Insider Buying and Selling at Suburban Propane Partners

In other news, Director Harold R. Logan, Jr. sold 6,900 shares of the company's 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 transaction, the director owned 39,227 shares in the company, valued at $750,804.78. This represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Trading of Suburban Propane Partners

An institutional investor recently raised its position in Suburban Propane Partners stock. Goldman Sachs Group Inc. boosted its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,370,534 shares of the energy company's stock after acquiring an additional 142,547 shares during the quarter. Goldman Sachs Group Inc. owned 2.11% of Suburban Propane Partners worth $28,795,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.94% of the company's stock.

Analyst Upgrades and Downgrades

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

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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