Suburban Propane Partners LP (NYSE:SPH) VP Daniel S. Bloomstein sold 3,000 shares of Suburban Propane Partners stock in a transaction on Monday, June 24th. The shares were sold at an average price of $24.30, for a total value of $72,900.00. Following the sale, the vice president now directly owns 24,778 shares of the company’s stock, valued at approximately $602,105.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
NYSE SPH opened at $23.80 on Thursday. The company’s 50-day moving average price is $23.41. Suburban Propane Partners LP has a twelve month low of $18.63 and a twelve month high of $24.63. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $1.49 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 4.98 and a beta of 0.85.
Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, May 9th. The energy company reported $1.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.08. Suburban Propane Partners had a return on equity of 15.24% and a net margin of 6.18%. The business had revenue of $504.38 million for the quarter, compared to the consensus estimate of $556.16 million. Analysts expect that Suburban Propane Partners LP will post 1.21 earnings per share for the current year.
Several equities research analysts recently issued reports on SPH shares. ValuEngine raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. TheStreet upgraded Suburban Propane Partners from a “c+” rating to a “b-” rating in a research report on Friday, April 5th. Finally, Zacks Investment Research upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. raised its position in Suburban Propane Partners by 20.0% during the first quarter. OppenheimerFunds Inc. now owns 7,015,333 shares of the energy company’s stock valued at $157,214,000 after purchasing an additional 1,171,533 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Suburban Propane Partners by 12.6% in the first quarter. Clearbridge Investments LLC now owns 812,827 shares of the energy company’s stock worth $18,215,000 after buying an additional 90,800 shares during the period. Energy Income Partners LLC increased its holdings in shares of Suburban Propane Partners by 6.3% in the fourth quarter. Energy Income Partners LLC now owns 400,198 shares of the energy company’s stock worth $7,712,000 after buying an additional 23,574 shares during the period. Citigroup Inc. increased its holdings in shares of Suburban Propane Partners by 2,194.5% in the fourth quarter. Citigroup Inc. now owns 238,350 shares of the energy company’s stock worth $4,593,000 after buying an additional 227,962 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Suburban Propane Partners in the fourth quarter worth about $2,802,000. Institutional investors and hedge funds own 31.11% of the company’s stock.
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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