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

Suburban Propane Partners, L.P. (NYSE:SPH) 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 dividend on an annualized basis and a yield of 6.90%. 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 payout ratio of 59.1% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Performance

SPH stock opened at $18.84 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.98. Suburban Propane Partners has a twelve month low of $15.20 and a twelve month high of $22.33. The business’s fifty day moving average is $17.99 and its 200-day moving average is $18.71. The company has a market cap of $1.21 billion, a P/E ratio of 11.15 and a beta of 0.44.

Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, August 8th. The energy company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). The company had revenue of $254.61 million for the quarter. Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%.

Wall Street Analyst Weigh In

SPH has been the topic of several analyst reports. Wells Fargo & Company lowered shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 target price on the stock. in a report on Friday, August 30th. StockNews.com cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.67.

Insider Buying and Selling at Suburban Propane Partners

In other 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 shares were sold at an average price of $17.37, for a total transaction of $43,425.00. Following the completion of the transaction, the director now directly owns 37,015 shares of the company’s stock, valued at $642,950.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% 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.