BNP Paribas Financial Markets Trims Stake in Suburban Propane Partners, L.P. (NYSE:SPH)

BNP Paribas Financial Markets lowered its stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) by 27.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 89,117 shares of the energy company's stock after selling 33,820 shares during the period. BNP Paribas Financial Markets owned approximately 0.14% of Suburban Propane Partners worth $1,599,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CWM LLC boosted its holdings in Suburban Propane Partners by 52.1% in the second quarter. CWM LLC now owns 2,144 shares of the energy company's stock worth $41,000 after purchasing an additional 734 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Suburban Propane Partners in the second quarter worth $193,000. Oppenheimer & Co. Inc. lifted its stake in shares of Suburban Propane Partners by 7.9% during 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. Biechele Royce Advisors bought a new position in Suburban Propane Partners in the 2nd quarter worth $211,000. Finally, Greenup Street Wealth Management LLC increased its stake in Suburban Propane Partners by 8.1% in the 3rd 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. 30.94% of the stock is currently owned by institutional investors.

Suburban Propane Partners Price Performance

Suburban Propane Partners stock traded up $0.28 during midday trading on Monday, reaching $19.14. 161,862 shares of the stock traded hands, compared to its average volume of 220,484. The stock has a market cap of $1.23 billion, a P/E ratio of 16.54 and a beta of 0.45. The stock's fifty day moving average is $18.57 and its 200-day moving average is $18.53. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 2.21. Suburban Propane Partners, L.P. has a 12 month low of $15.20 and a 12 month high of $22.33.

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date was Tuesday, November 5th. Suburban Propane Partners's payout ratio is 114.04%.

Insider Buying and Selling at Suburban Propane Partners

In other news, VP Craig Palleschi sold 2,800 shares of Suburban Propane Partners stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total value of $49,616.00. Following the completion of the transaction, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. The trade was a 11.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP A Davin Dambrosio sold 6,500 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $18.90, for a total value of $122,850.00. Following the sale, the vice president now owns 76,176 shares in the company, valued at $1,439,726.40. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SPH. Wells Fargo & Company lowered Suburban Propane Partners from an "equal weight" rating to an "underweight" rating and set a $17.00 price objective for the company. in a research note on Friday, August 30th. StockNews.com cut shares of Suburban Propane Partners from a "buy" rating to a "hold" rating in a research report on Tuesday, August 13th.

Suburban Propane Partners 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.