Suburban Propane Partners (NYSE:SPH) Trading Down 6.1% – Time to Sell?

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) fell 6.1% during mid-day trading on Thursday . The company traded as low as $17.33 and last traded at $17.61. 109,273 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 221,736 shares. The stock had previously closed at $18.76.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPH. StockNews.com lowered Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Wells Fargo & Company lowered Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Friday, August 30th.

Suburban Propane Partners Stock Down 8.9 %

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.45 and a current ratio of 0.65. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 11.57 and a beta of 0.43. The firm has a 50-day moving average price of $18.24 and a two-hundred day moving average price of $18.62.

Suburban Propane Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend was Tuesday, November 5th. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 86.67%.

Insider Buying and Selling

In related news, Director Harold R. Logan, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.37, for a total transaction of $43,425.00. Following the transaction, the director now owns 37,015 shares in the company, valued at $642,950.55. This trade represents a 6.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Suburban Propane Partners by 52.1% in the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after purchasing an additional 734 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Suburban Propane Partners in the 2nd quarter valued at approximately $193,000. Oppenheimer & Co. Inc. grew its stake in shares of Suburban Propane Partners by 7.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock valued at $197,000 after purchasing an additional 800 shares during the last quarter. Biechele Royce Advisors purchased a new position in shares of Suburban Propane Partners in the 2nd quarter valued at approximately $211,000. Finally, LRI Investments LLC purchased a new stake in shares of Suburban Propane Partners in the first quarter valued at approximately $255,000. 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.