Insider Selling: Suburban Propane Partners, L.P. (NYSE:SPH) VP Sells 2,800 Shares of Stock

Suburban Propane Partners, L.P. (NYSE:SPH) VP Craig Palleschi sold 2,800 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total value of $49,616.00. Following the transaction, the vice president now owns 21,898 shares of the company’s stock, valued at approximately $388,032.56. The trade was a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Suburban Propane Partners Stock Up 2.8 %

Suburban Propane Partners stock opened at $18.66 on Friday. The company’s 50-day moving average price is $18.25 and its two-hundred day moving average price is $18.54. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98. The stock has a market cap of $1.20 billion, a P/E ratio of 16.37 and a beta of 0.43. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.33.

Suburban Propane Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend was Tuesday, November 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is currently 114.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Wells Fargo & Company downgraded Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Friday, August 30th.

Institutional Investors Weigh In On Suburban Propane Partners

Large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new stake in shares of Suburban Propane Partners during the 3rd quarter valued at $270,000. Oppenheimer & Co. Inc. lifted its position in Suburban Propane Partners by 7.9% during the third quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock worth $197,000 after purchasing an additional 800 shares during the period. Janney Montgomery Scott LLC grew its stake in Suburban Propane Partners by 3.8% during the third quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock worth $898,000 after buying an additional 1,818 shares in the last quarter. Greenup Street Wealth Management LLC grew its stake in Suburban Propane Partners by 8.1% during the third quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock worth $402,000 after buying an additional 1,675 shares in the last quarter. Finally, Simplicity Wealth LLC increased its holdings in Suburban Propane Partners by 4.2% in the 3rd quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock valued at $412,000 after buying an additional 936 shares during the period. Institutional investors and hedge funds own 30.94% of the company’s stock.

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.