Suburban Propane Partners LP (NYSE:SPH) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 328,800 shares, a growth of 9.7% from the January 15th total of 299,800 shares. Based on an average daily trading volume, of 206,900 shares, the short-interest ratio is currently 1.6 days. Currently, 0.5% of the shares of the company are sold short.
A number of hedge funds have recently bought and sold shares of SPH. Resources Management Corp CT ADV purchased a new position in Suburban Propane Partners during the third quarter worth approximately $34,000. Corbenic Partners LLC purchased a new stake in shares of Suburban Propane Partners in the fourth quarter worth about $151,000. California Public Employees Retirement System boosted its position in shares of Suburban Propane Partners by 55.1% in the third quarter. California Public Employees Retirement System now owns 114,350 shares of the energy company’s stock worth $2,702,000 after buying an additional 40,600 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Suburban Propane Partners by 191.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 35,000 shares of the energy company’s stock valued at $827,000 after buying an additional 23,000 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in shares of Suburban Propane Partners by 58.8% in the third quarter. Princeton Global Asset Management LLC now owns 10,800 shares of the energy company’s stock valued at $253,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 31.27% of the company’s stock.
Shares of NYSE:SPH traded down $0.02 during trading on Friday, reaching $21.50. 2,404 shares of the company’s stock traded hands, compared to its average volume of 216,278. Suburban Propane Partners has a fifty-two week low of $21.13 and a fifty-two week high of $24.89. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 3.01. The firm has a market cap of $1.34 billion, a PE ratio of 16.67, a P/E/G ratio of 4.89 and a beta of 0.88. The company has a 50-day simple moving average of $22.17 and a 200-day simple moving average of $22.95.
Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, February 6th. The energy company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.05). Suburban Propane Partners had a net margin of 6.62% and a return on equity of 16.71%. The business had revenue of $333.88 million for the quarter, compared to analyst estimates of $371.70 million. On average, equities research analysts forecast that Suburban Propane Partners will post 1.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, February 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 11.16%. The ex-dividend date was Monday, February 3rd. Suburban Propane Partners’s payout ratio is 218.18%.
A number of research firms have weighed in on SPH. ValuEngine upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Argus cut Suburban Propane Partners from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded Suburban Propane Partners from a “strong sell” rating to a “hold” rating and set a $25.00 target price on the stock in a research report on Thursday, January 16th. Finally, TheStreet cut Suburban Propane Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, December 17th.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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