SFE Investment Counsel Sells 2,240 Shares of Suburban Propane Partners, L.P. (SPH)

SFE Investment Counsel lowered its position in Suburban Propane Partners, L.P. (NYSE:SPH) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,839 shares of the energy company’s stock after selling 2,240 shares during the period. SFE Investment Counsel’s holdings in Suburban Propane Partners, L.P. were worth $622,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blair William & Co. IL boosted its holdings in Suburban Propane Partners, L.P. by 1.8% in the second quarter. Blair William & Co. IL now owns 49,010 shares of the energy company’s stock worth $1,166,000 after acquiring an additional 845 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Suburban Propane Partners, L.P. by 10.1% in the second quarter. Advisors Asset Management Inc. now owns 41,743 shares of the energy company’s stock valued at $993,000 after purchasing an additional 3,814 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Suburban Propane Partners, L.P. by 14.3% in the second quarter. Rafferty Asset Management LLC now owns 124,620 shares of the energy company’s stock valued at $2,965,000 after purchasing an additional 15,609 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Suburban Propane Partners, L.P. by 18.4% in the second quarter. Goldman Sachs Group Inc. now owns 967,175 shares of the energy company’s stock valued at $23,009,000 after purchasing an additional 150,423 shares in the last quarter. Finally, Abrams Capital Management L.P. bought a new position in shares of Suburban Propane Partners, L.P. in the second quarter valued at approximately $9,254,000. Institutional investors and hedge funds own 25.40% of the company’s stock.

In other Suburban Propane Partners, L.P. news, Director Harold R. Logan, Jr. sold 2,127 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $24.20, for a total value of $51,473.40. Following the completion of the sale, the director now directly owns 24,074 shares of the company’s stock, valued at $582,590.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) traded down $0.54 during trading on Monday, reaching $25.70. The company had a trading volume of 95,967 shares, compared to its average volume of 327,732. The company has a market capitalization of $1,560.00, a price-to-earnings ratio of 58.31 and a beta of 0.68. Suburban Propane Partners, L.P. has a 1-year low of $22.71 and a 1-year high of $32.17. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 1.94.

Suburban Propane Partners, L.P. (NYSE:SPH) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.11. The business had revenue of $222.90 million for the quarter, compared to analyst estimates of $221.93 million. Suburban Propane Partners, L.P. had a return on equity of 4.09% and a net margin of 2.46%. Suburban Propane Partners, L.P.’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share. research analysts anticipate that Suburban Propane Partners, L.P. will post 0.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, November 6th. This represents a $2.40 dividend on an annualized basis and a yield of 9.34%. Suburban Propane Partners, L.P.’s dividend payout ratio (DPR) is currently 788.89%.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Suburban Propane Partners, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered Suburban Propane Partners, L.P. from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price on shares of Suburban Propane Partners, L.P. in a report on Friday, August 18th. Finally, Citigroup Inc. upgraded Suburban Propane Partners, L.P. from a “neutral” rating to a “buy” rating and dropped their target price for the company from $32.00 to $27.00 in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.00.

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About Suburban Propane Partners, L.P.

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

Institutional Ownership by Quarter for Suburban Propane Partners, L.P. (NYSE:SPH)

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