First Eagle Investment Management LLC continued to hold its position in shares of Suburban Propane Partners LP (NYSE:SPH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,250 shares of the company’s stock at the end of the third quarter. First Eagle Investment Management LLC’s holdings in Suburban Propane Partners were worth $6,535,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SPH. Global X Management Co. LLC boosted its position in shares of Suburban Propane Partners by 13.5% in the third quarter. Global X Management Co. LLC now owns 283,417 shares of the company’s stock valued at $9,438,000 after buying an additional 33,733 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Suburban Propane Partners by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 931,418 shares of the company’s stock valued at $31,016,000 after buying an additional 38,673 shares during the period. Sei Investments Co. boosted its position in shares of Suburban Propane Partners by 135,450.0% in the third quarter. Sei Investments Co. now owns 5,422 shares of the company’s stock valued at $181,000 after buying an additional 5,418 shares during the period. US Bancorp DE boosted its position in shares of Suburban Propane Partners by 13.0% in the third quarter. US Bancorp DE now owns 7,088 shares of the company’s stock valued at $236,000 after buying an additional 816 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Suburban Propane Partners by 24.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,854 shares of the company’s stock valued at $162,000 after buying an additional 950 shares during the period.

Institutional Ownership by Quarter for Suburban Propane Partners (NYSE:SPH)

Shares of Suburban Propane Partners LP (NYSE:SPH) traded up 2.3152% during mid-day trading on Wednesday, reaching $28.4641. 428,264 shares of the company traded hands. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 120.1017 and a beta of 0.69. The firm has a 50-day moving average price of $31.05 and a 200 day moving average price of $32.88. Suburban Propane Partners LP has a 52 week low of $20.93 and a 52 week high of $37.10.

Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, November 10th. The company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by $0.17. The business had revenue of $161 million for the quarter, compared to analyst estimates of $196.39 million. The business’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the firm posted ($1.11) earnings per share. On average, analysts anticipate that Suburban Propane Partners LP will post $1.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 8th. Shareholders of record on Tuesday, November 1st were given a dividend of $0.887 per share. This represents a $3.55 annualized dividend and a dividend yield of 12.75%. The ex-dividend date of this dividend was Friday, October 28th.

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Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Suburban Propane Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Stifel Nicolaus upgraded shares of Suburban Propane Partners from a “hold” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $36.00 in a research note on Thursday, October 13th. Finally, Credit Suisse Group AG set a $30.00 price target on shares of Suburban Propane Partners and gave the stock a “sell” rating in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Suburban Propane Partners presently has a consensus rating of “Hold” and a consensus price target of $33.20.

In other Suburban Propane Partners news, Director Lawrence C. Caldwell purchased 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were bought at an average price of $28.43 per share, for a total transaction of $125,092.00. Following the acquisition, the director now owns 41,319 shares in the company, valued at $1,174,699.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith P. Onderdonk sold 4,100 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $28.10, for a total transaction of $115,210.00. Following the completion of the transaction, the insider now owns 26,222 shares in the company, valued at approximately $736,838.20. The disclosure for this sale can be found here.

About Suburban Propane Partners

Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.

5 Day Chart for NYSE:SPH

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