Traders Buy Large Volume of Suburban Propane Partners Put Options (SPH)
Suburban Propane Partners LP (NYSE:SPH) was the target of unusually large options trading activity on Tuesday. Traders acquired 12,070 put options on the stock. This is an increase of 1,442% compared to the average daily volume of 783 put options.
In other Suburban Propane Partners news, Director William M. Landuyt purchased 4,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was acquired at an average cost of $24.38 per share, with a total value of $97,520.00. Following the completion of the purchase, the director now directly owns 20,560 shares of the company’s stock, valued at approximately $501,252.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold R. Logan, Jr. sold 3,500 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $26.18, for a total transaction of $91,630.00. Following the completion of the sale, the director now directly owns 27,574 shares of the company’s stock, valued at $721,887.32. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SPH. Elite Wealth Management LLC purchased a new stake in Suburban Propane Partners during the third quarter valued at about $100,000. Mosaic Family Wealth LLC raised its stake in Suburban Propane Partners by 0.4% in the third quarter. Mosaic Family Wealth LLC now owns 4,224 shares of the energy company’s stock valued at $141,000 after buying an additional 18 shares during the period. Proficio Capital Partners LLC purchased a new stake in Suburban Propane Partners during the first quarter valued at about $189,000. PNC Financial Services Group Inc. raised its stake in Suburban Propane Partners by 56.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the energy company’s stock valued at $207,000 after buying an additional 2,777 shares during the period. Finally, Mcdaniel Terry & Co. raised its stake in Suburban Propane Partners by 10.0% in the third quarter. Mcdaniel Terry & Co. now owns 6,600 shares of the energy company’s stock valued at $220,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 29.05% of the company’s stock.
Suburban Propane Partners (NYSE:SPH) opened at 22.92 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of 49.18 and a beta of 0.88. Suburban Propane Partners has a 52 week low of $22.71 and a 52 week high of $37.10. The stock’s 50 day moving average is $25.09 and its 200 day moving average is $27.67.
Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, May 4th. The energy company reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.82 by $0.46. The firm had revenue of $450.58 million during the quarter, compared to the consensus estimate of $503.38 million. Suburban Propane Partners had a return on equity of 4.69% and a net margin of 3.37%. Suburban Propane Partners’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. On average, equities research analysts expect that Suburban Propane Partners will post $0.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Tuesday, May 2nd were issued a $0.887 dividend. The ex-dividend date was Friday, April 28th. This represents a $3.55 annualized dividend and a dividend yield of 15.48%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 601.71%.
Several equities analysts have recently commented on SPH shares. Stifel Nicolaus downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $34.00 to $29.00 in a research note on Tuesday, February 14th. Zacks Investment Research raised shares of Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 9th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.75.
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About Suburban Propane Partners
Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.
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