Suburban Propane Partners, L.P. Announces Quarterly Dividend of $0.33 (NYSE:SPH)

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.325 per share by the energy company on Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Tuesday, November 5th.

Suburban Propane Partners has decreased its dividend payment by an average of 10.3% annually over the last three years. Suburban Propane Partners has a dividend payout ratio of 59.1% indicating that its dividend is sufficiently covered by earnings.

Suburban Propane Partners Price Performance

Shares of NYSE:SPH traded down $0.35 during mid-day trading on Friday, reaching $18.49. The stock had a trading volume of 125,542 shares, compared to its average volume of 225,428. The business's 50 day moving average price is $18.01 and its 200 day moving average price is $18.70. Suburban Propane Partners has a 1 year low of $15.20 and a 1 year high of $22.33. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.98. The company has a market cap of $1.18 billion, a P/E ratio of 10.94 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The energy company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.10). The business had revenue of $254.61 million during the quarter. Suburban Propane Partners had a net margin of 7.28% and a return on equity of 16.69%.

Insider Activity

In related news, Director Harold R. Logan, Jr. sold 2,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.37, for a total transaction of $43,425.00. Following the completion of the sale, the director now owns 37,015 shares of the company's stock, valued at $642,950.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

SPH has been the subject of several recent research reports. Wells Fargo & Company downgraded Suburban Propane Partners from an "equal weight" rating to an "underweight" rating and set a $17.00 price objective for the company. in a report on Friday, August 30th. StockNews.com lowered Suburban Propane Partners from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Suburban Propane Partners has a consensus rating of "Hold" and a consensus price target of $19.67.

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.