Summit Financial LLC Raises Stock Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Summit Financial LLC increased its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,005 shares of the energy company’s stock after acquiring an additional 3,005 shares during the quarter. Summit Financial LLC owned about 0.08% of Suburban Propane Partners worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Suburban Propane Partners during the fourth quarter worth $24,340,000. Raymond James Financial Inc. acquired a new position in Suburban Propane Partners during the 4th quarter valued at about $3,474,000. JPMorgan Chase & Co. raised its stake in Suburban Propane Partners by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock valued at $11,552,000 after buying an additional 155,360 shares during the last quarter. Wealthstar Advisors LLC acquired a new stake in Suburban Propane Partners in the fourth quarter worth about $554,000. Finally, Levin Capital Strategies L.P. grew its stake in shares of Suburban Propane Partners by 10.3% during the fourth quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock worth $3,340,000 after acquiring an additional 18,196 shares during the last quarter. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

Shares of Suburban Propane Partners stock opened at $21.72 on Thursday. The company has a 50 day moving average price of $20.92 and a 200 day moving average price of $19.24. The firm has a market capitalization of $1.40 billion, a P/E ratio of 20.49 and a beta of 0.46. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 2.39. Suburban Propane Partners, L.P. has a 52 week low of $15.20 and a 52 week high of $22.24.

Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings results on Thursday, February 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.46). Suburban Propane Partners had a return on equity of 11.81% and a net margin of 5.18%. During the same quarter in the previous year, the firm posted $0.38 earnings per share.

Suburban Propane Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.30 annualized dividend and a yield of 5.99%. Suburban Propane Partners’s payout ratio is presently 122.64%.

Insider Activity

In related news, SVP Douglas Brinkworth sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $20.50, for a total value of $41,000.00. Following the sale, the senior vice president now owns 159,355 shares in the company, valued at $3,266,777.50. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Schueler sold 7,746 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $20.93, for a total transaction of $162,123.78. Following the transaction, the vice president now directly owns 11,133 shares of the company’s stock, valued at $233,013.69. This represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% 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, 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.