Suburban Propane Partners (NYSE:SPH) Trading Down 6.7% After Earnings Miss

Shares of Suburban Propane Partners, L.P. (NYSE:SPH) fell 6.7% on Thursday following a dissappointing earnings announcement. The stock traded as low as $18.87 and last traded at $18.72. 110,644 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 198,263 shares. The stock had previously closed at $20.06.

The energy company reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.11). The company had revenue of $587.66 million for the quarter, compared to analysts’ expectations of $548.00 million. Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.81%.

Suburban Propane Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend is Tuesday, May 6th. Suburban Propane Partners’s payout ratio is 122.64%.

Insider Buying and Selling at Suburban Propane Partners

In other news, VP Michael A. Schueler sold 7,746 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total value of $162,123.78. Following the sale, the vice president now directly owns 11,133 shares in the company, valued at $233,013.69. The trade was a 41.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas Brinkworth sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 159,355 shares of the company’s stock, valued at approximately $3,266,777.50. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Suburban Propane Partners

Institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its holdings in Suburban Propane Partners by 16.7% during the first quarter. Alps Advisors Inc. now owns 14,142,616 shares of the energy company’s stock valued at $297,136,000 after buying an additional 2,018,820 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Suburban Propane Partners by 1.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,404,228 shares of the energy company’s stock worth $58,553,000 after acquiring an additional 33,560 shares during the last quarter. 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 valued at about $24,340,000. JPMorgan Chase & Co. raised its position in shares of Suburban Propane Partners by 6.2% in the 4th quarter. JPMorgan Chase & Co. now owns 684,155 shares of the energy company’s stock valued at $11,767,000 after purchasing an additional 40,239 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Suburban Propane Partners in the 4th quarter worth approximately $3,474,000. Hedge funds and other institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $1.22 billion, a PE ratio of 17.84 and a beta of 0.18. The firm has a 50 day moving average price of $20.40 and a 200-day moving average price of $19.62.

Suburban Propane Partners Company 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.