Wealthstar Advisors LLC Acquires Shares of 32,233 Suburban Propane Partners, L.P. (NYSE:SPH)

Wealthstar Advisors LLC bought a new position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 32,233 shares of the energy company’s stock, valued at approximately $554,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cetera Trust Company N.A purchased a new stake in Suburban Propane Partners in the 4th quarter worth $28,000. Tandem Financial LLC purchased a new stake in shares of Suburban Propane Partners during the fourth quarter worth about $39,000. Independence Bank of Kentucky acquired a new position in shares of Suburban Propane Partners during the 4th quarter worth about $52,000. Oppenheimer & Co. Inc. lifted its stake in Suburban Propane Partners by 7.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock valued at $197,000 after buying an additional 800 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Suburban Propane Partners by 12.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,662 shares of the energy company’s stock worth $252,000 after buying an additional 1,601 shares during the last quarter. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Insider Buying and Selling at Suburban Propane Partners

In other news, VP A Davin Dambrosio sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total value of $122,850.00. Following the completion of the sale, the vice president now directly owns 76,176 shares in the company, valued at $1,439,726.40. This represents a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Craig Palleschi sold 2,800 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.72, for a total value of $49,616.00. Following the completion of the sale, the vice president now directly owns 21,898 shares of the company’s stock, valued at approximately $388,032.56. This represents a 11.34 % 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

NYSE:SPH opened at $21.05 on Monday. The firm has a market cap of $1.36 billion, a P/E ratio of 19.86 and a beta of 0.51. The stock has a 50 day moving average of $18.88 and a two-hundred day moving average of $18.37. Suburban Propane Partners, L.P. has a 12 month low of $15.20 and a 12 month high of $21.89. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 2.21.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, February 6th. The energy company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.54%. During the same period last year, the company earned $0.38 earnings per share.

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th will be given a dividend of $0.325 per share. The ex-dividend date is Tuesday, February 4th. This represents a $1.30 dividend on an annualized basis and a yield of 6.18%. Suburban Propane Partners’s payout ratio is presently 122.64%.

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.