Suburban Propane Partners (NYSE:SPH) Shares Gap Down After Earnings Miss

Suburban Propane Partners, L.P. (NYSE:SPH - Get Free Report)'s stock price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $21.64, but opened at $20.22. Suburban Propane Partners shares last traded at $20.58, with a volume of 21,343 shares.

The energy company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.54%. During the same quarter last year, the firm earned $0.38 earnings per share.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.08%. Suburban Propane Partners's payout ratio is 122.64%.

Insider Buying and Selling

In other Suburban Propane Partners news, VP A Davin Dambrosio sold 6,500 shares of the business's 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 transaction, the vice president now directly owns 76,176 shares of the company's stock, valued at approximately $1,439,726.40. The trade was a 7.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Craig Palleschi sold 2,800 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total transaction of $49,616.00. Following the completion of the sale, the vice president now owns 21,898 shares of the company's stock, valued at $388,032.56. This trade represents a 11.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Suburban Propane Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Simplicity Wealth LLC boosted its stake in shares of Suburban Propane Partners by 4.2% in the third 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 in the last quarter. Greenup Street Wealth Management LLC boosted its position in shares of Suburban Propane Partners by 8.1% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company's stock worth $402,000 after purchasing an additional 1,675 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Suburban Propane Partners by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company's stock worth $898,000 after purchasing an additional 1,818 shares in the last quarter. Oppenheimer & Co. Inc. grew 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 worth $197,000 after purchasing an additional 800 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Suburban Propane Partners in the 3rd quarter valued at about $270,000. Hedge funds and other institutional investors own 30.94% of the company's stock.

Suburban Propane Partners Price Performance

The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 20.16 and a beta of 0.51. The company's 50 day moving average is $18.88 and its 200 day moving average is $18.37. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.51 and a quick ratio of 0.33.

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.