Suburban Propane Partners, L.P. (NYSE:SPH) Announces Dividend Increase – $0.35 Per Share

Suburban Propane Partners, L.P. (NYSE:SPH) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.35 per share by the energy company on Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 7.7% increase from Suburban Propane Partners’s previous quarterly dividend of $0.3250.

Suburban Propane Partners has decreased its dividend payment by an average of 0.1% per year over the last three years. Suburban Propane Partners has a payout ratio of 76.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Suburban Propane Partners to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 63.4%.

Suburban Propane Partners Price Performance

SPH opened at $17.75 on Friday. The company has a fifty day simple moving average of $17.20 and a 200 day simple moving average of $18.19. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 2.11 and a beta of 0.43. Suburban Propane Partners has a twelve month low of $16.25 and a twelve month high of $20.80. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.72.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.11). The firm had revenue of $261.38 million for the quarter, compared to analysts’ expectations of $255.00 million. Suburban Propane Partners had a return on equity of 18.57% and a net margin of 9.37%. Equities research analysts expect that Suburban Propane Partners will post 2.05 EPS for the current fiscal year.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P. (NYSE:SPH) is a master limited partnership that distributes and sells propane and other energy products to residential, commercial, industrial, agricultural, and government customers. Its propane business supports heating, cooking, water heating, standby power generation, and vehicle-fueling applications.

The company also markets heating oil, kerosene, diesel fuel, gasoline, natural gas, and electricity in selected markets. Through its service operations, Suburban Propane provides equipment installation, maintenance, and repair services, including support for heating and cooling systems, generators, and related energy equipment.

Suburban Propane traces its roots to 1928 and has expanded through acquisitions and internal growth.