C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Stake in Suburban Propane Partners, L.P. (NYSE:SPH)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Suburban Propane Partners, L.P. (NYSE:SPH) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,415,120 shares of the energy company’s stock, valued at approximately $24,340,000. Suburban Propane Partners makes up approximately 1.1% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ portfolio, making the stock its 16th biggest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned 2.19% of Suburban Propane Partners at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Suburban Propane Partners by 31.8% during 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. Janney Montgomery Scott LLC boosted its stake in Suburban Propane Partners by 3.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock valued at $898,000 after purchasing an additional 1,818 shares during the last quarter. Wealthstar Advisors LLC bought a new stake in shares of Suburban Propane Partners in the 4th quarter worth $554,000. Allspring Global Investments Holdings LLC raised its stake in shares of Suburban Propane Partners by 39.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,700 shares of the energy company’s stock worth $425,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Greenup Street Wealth Management LLC lifted its holdings in shares of Suburban Propane Partners by 8.1% during the third quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock valued at $402,000 after purchasing an additional 1,675 shares in the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Suburban Propane Partners

In related news, VP Craig Palleschi sold 2,800 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.72, for a total transaction of $49,616.00. Following the completion of the sale, the vice president now owns 21,898 shares in the company, valued at approximately $388,032.56. This represents a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP A Davin Dambrosio sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $18.90, for a total value of $122,850.00. Following the completion of the transaction, the vice president now directly owns 76,176 shares in the company, valued at $1,439,726.40. The trade was a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Suburban Propane Partners Price Performance

NYSE SPH opened at $21.20 on Thursday. Suburban Propane Partners, L.P. has a one year low of $15.20 and a one year high of $21.89. The stock has a 50-day moving average of $18.99 and a 200 day moving average of $18.42. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.33 and a current ratio of 0.51. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 20.00 and a beta of 0.51.

Suburban Propane Partners (NYSE:SPH) last announced 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 net margin of 5.18% and a return on equity of 11.54%. During the same quarter in the previous year, the company posted $0.38 EPS.

Suburban Propane Partners Announces Dividend

The business also recently announced 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 was Tuesday, February 4th. This represents a $1.30 dividend on an annualized basis and a yield of 6.13%. Suburban Propane Partners’s dividend payout ratio is presently 122.64%.

Suburban Propane Partners 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.