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

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Tuesday, May 7th will be paid a dividend of 0.325 per share by the energy company on Tuesday, May 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend is Monday, May 6th.

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 52.0% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Performance

Shares of NYSE SPH opened at $19.85 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.52 and a debt-to-equity ratio of 2.26. Suburban Propane Partners has a 12-month low of $14.42 and a 12-month high of $22.33. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.48 and a beta of 0.43. The firm has a 50 day moving average of $20.29 and a 200 day moving average of $18.60.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 8th. The energy company reported $0.38 EPS for the quarter. Suburban Propane Partners had a net margin of 7.36% and a return on equity of 17.97%. The firm had revenue of $365.83 million for the quarter.

Insider Transactions at Suburban Propane Partners

In other Suburban Propane Partners news, SVP Neil Scanlon sold 26,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.33, for a total transaction of $502,580.00. Following the completion of the sale, the senior vice president now directly owns 162,129 shares of the company’s stock, valued at $3,133,953.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Mizuho cut shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Monday, January 29th.

About Suburban Propane Partners

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.