C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $24.34 Million Position in Suburban Propane Partners, L.P. (NYSE:SPH)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Suburban Propane Partners, L.P. (NYSE:SPH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,415,120 shares of the energy company's stock, valued at approximately $24,340,000. Suburban Propane Partners makes up approximately 0.9% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' investment portfolio, making the stock its 22nd largest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned about 2.19% of Suburban Propane Partners at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new position in Suburban Propane Partners during the fourth quarter worth about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at approximately $31,000. Tandem Financial LLC acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at approximately $39,000. Independence Bank of Kentucky acquired a new stake in shares of Suburban Propane Partners in the fourth quarter valued at approximately $52,000. Finally, Allworth Financial LP raised its position in Suburban Propane Partners by 18.7% during the fourth quarter. Allworth Financial LP now owns 9,904 shares of the energy company's stock valued at $189,000 after purchasing an additional 1,557 shares in the last quarter. Institutional investors own 30.94% of the company's stock.

Insider Activity

In related news, VP A Davin Dambrosio sold 6,500 shares of the company's stock in a transaction dated 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. This represents a 7.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael A. Schueler sold 7,746 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $20.93, for a total transaction of $162,123.78. Following the completion of the sale, the vice president now owns 11,133 shares in the company, valued at $233,013.69. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Suburban Propane Partners Price Performance

SPH traded down $0.16 during trading on Wednesday, hitting $22.04. 199,179 shares of the stock traded hands, compared to its average volume of 314,174. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.24. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 20.79 and a beta of 0.51. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.70 and a quick ratio of 0.51. The business has a 50 day moving average price of $19.27 and a 200 day moving average price of $18.54.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last posted its earnings results on Thursday, February 6th. The energy company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the firm posted $0.38 EPS.

Suburban Propane Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were issued a $0.325 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $1.30 annualized dividend and a yield of 5.90%. Suburban Propane Partners's payout ratio is 122.64%.

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.