Suburban Propane Partners, L.P. (NYSE:SPH) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 27.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 143,884 shares of the energy company's stock after selling 54,722 shares during the period. Wells Fargo & Company MN owned about 0.22% of Suburban Propane Partners worth $2,475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Private Portfolio Partners LLC grew its position in shares of Suburban Propane Partners by 85.4% in the 4th quarter. Private Portfolio Partners LLC now owns 28,359 shares of the energy company's stock valued at $488,000 after buying an additional 13,065 shares during the last quarter. Summit Financial LLC raised its holdings in Suburban Propane Partners by 6.0% during the fourth quarter. Summit Financial LLC now owns 53,005 shares of the energy company's stock worth $912,000 after purchasing an additional 3,005 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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. LPL Financial LLC increased its holdings in Suburban Propane Partners by 14.7% in the fourth quarter. LPL Financial LLC now owns 127,409 shares of the energy company's stock valued at $2,191,000 after buying an additional 16,368 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Suburban Propane Partners in the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 30.94% of the company's stock.

Insiders Place Their Bets

In other Suburban Propane Partners news, VP Michael A. Schueler sold 7,746 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total value of $162,123.78. Following the completion of the sale, the vice president now owns 11,133 shares of the company's stock, valued at $233,013.69. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Brinkworth sold 2,000 shares of Suburban Propane Partners stock in a transaction 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 sale, the senior vice president now directly owns 159,355 shares in the company, valued at $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 owned by insiders.

Suburban Propane Partners Price Performance

Shares of NYSE:SPH traded down $0.23 during midday trading on Wednesday, hitting $20.04. 105,330 shares of the stock were exchanged, compared to its average volume of 199,369. The company has a 50 day moving average price of $20.51 and a 200-day moving average price of $19.56. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 2.39. The stock has a market cap of $1.29 billion, a P/E ratio of 18.91 and a beta of 0.22. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.24.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 11.81% and a net margin of 5.18%. During the same quarter in the previous year, the business earned $0.38 EPS.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date is Tuesday, May 6th. Suburban Propane Partners's payout ratio is currently 122.64%.

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.