Suburban Propane Partners, L.P. (NYSE:SPH) Short Interest Down 29.2% in February

Suburban Propane Partners, L.P. (NYSE:SPH) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 407,022 shares, a decline of 29.2% from the February 12th total of 574,998 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 145,133 shares, the short-interest ratio is presently 2.8 days. Based on an average daily trading volume, of 145,133 shares, the short-interest ratio is presently 2.8 days. Approximately 0.6% of the company’s stock are short sold.

Suburban Propane Partners Stock Performance

Shares of NYSE SPH traded down $0.24 during trading on Friday, reaching $20.39. The stock had a trading volume of 127,319 shares, compared to its average volume of 133,015. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.61 and a current ratio of 0.87. The stock has a market cap of $1.35 billion, a PE ratio of 10.04 and a beta of 0.42. Suburban Propane Partners has a one year low of $17.30 and a one year high of $21.72. The firm’s 50 day moving average price is $19.88 and its two-hundred day moving average price is $19.11.

Suburban Propane Partners (NYSE:SPH) last announced its quarterly earnings data on Thursday, February 5th. The energy company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.16. The firm had revenue of $370.39 million for the quarter, compared to analysts’ expectations of $392.00 million. Suburban Propane Partners had a return on equity of 19.94% and a net margin of 9.30%.

Suburban Propane Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Tuesday, February 3rd were given a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Tuesday, February 3rd. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 64.04%.

Institutional Investors Weigh In On Suburban Propane Partners

A number of institutional investors have recently modified their holdings of SPH. Goldman Sachs Group Inc. raised its stake in Suburban Propane Partners by 11.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after acquiring an additional 142,547 shares during the period. Allworth Financial LP boosted its stake in Suburban Propane Partners by 44.7% in the second quarter. Allworth Financial LP now owns 11,514 shares of the energy company’s stock valued at $213,000 after acquiring an additional 3,557 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Suburban Propane Partners by 1.6% during the second quarter. PNC Financial Services Group Inc. now owns 45,354 shares of the energy company’s stock valued at $840,000 after purchasing an additional 708 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Suburban Propane Partners by 18.7% during the second quarter. JPMorgan Chase & Co. now owns 1,266,303 shares of the energy company’s stock valued at $23,465,000 after purchasing an additional 199,693 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Suburban Propane Partners by 8.1% during the 2nd quarter. Invesco Ltd. now owns 46,545 shares of the energy company’s stock worth $862,000 after purchasing an additional 3,479 shares during the period. Institutional investors own 30.94% of the company’s stock.

Wall Street Analyst Weigh In

SPH has been the topic of a number of research analyst reports. Argus upgraded shares of Suburban Propane Partners to a “strong-buy” rating in a research note on Wednesday, January 21st. Zacks Research raised shares of Suburban Propane Partners to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of Suburban Propane Partners from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Suburban Propane Partners currently has an average rating of “Buy”.

About Suburban Propane Partners

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.