Suburban Propane Partners, L.P. (NYSE:SPH) Sees Large Drop in Short Interest

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 965,800 shares, a decrease of 13.0% from the February 28th total of 1,110,000 shares. Based on an average trading volume of 282,700 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.6% of the company's stock are short sold.

Suburban Propane Partners Stock Performance

Suburban Propane Partners stock traded down $1.57 during midday trading on Friday, reaching $19.82. 320,447 shares of the company traded hands, compared to its average volume of 201,577. Suburban Propane Partners has a 12 month low of $15.20 and a 12 month high of $22.24. 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 of $20.96 and a two-hundred day moving average of $19.28. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.70 and a beta of 0.46.

Suburban Propane Partners (NYSE:SPH - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The energy company reported $0.30 earnings per share (EPS) 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 period in the previous year, the company earned $0.38 earnings per share.

Suburban Propane Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.56%. The ex-dividend date was Tuesday, February 4th. Suburban Propane Partners's dividend payout ratio (DPR) is presently 122.64%.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, SVP Douglas Brinkworth sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $20.50, for a total value of $41,000.00. Following the completion of the transaction, the senior vice president now owns 159,355 shares of the company's stock, valued at approximately $3,266,777.50. The trade was a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Schueler sold 7,746 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total transaction of $162,123.78. Following the sale, the vice president now directly owns 11,133 shares in the company, valued at approximately $233,013.69. The trade was a 41.03 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Suburban Propane Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Suburban Propane Partners during the 4th quarter worth $24,340,000. JPMorgan Chase & Co. raised its holdings in Suburban Propane Partners by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company's stock worth $11,552,000 after purchasing an additional 155,360 shares during the period. Levin Capital Strategies L.P. lifted its position in Suburban Propane Partners by 10.3% during the fourth quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company's stock valued at $3,340,000 after purchasing an additional 18,196 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Suburban Propane Partners during the fourth quarter valued at about $251,000. Finally, Raymond James Financial Inc. purchased a new stake in Suburban Propane Partners in the fourth quarter worth about $3,474,000. Hedge funds and other institutional investors 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.