ING Groep NV acquired a new stake in Suburban Propane Partners LP (NYSE:SPH) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 33,700 shares of the energy company’s stock, valued at approximately $793,000.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Suburban Propane Partners by 19.4% during the third quarter. Wells Fargo & Company MN now owns 138,315 shares of the energy company’s stock worth $3,255,000 after buying an additional 22,432 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Suburban Propane Partners by 76.9% during the third quarter. Stratos Wealth Partners LTD. now owns 19,956 shares of the energy company’s stock worth $470,000 after buying an additional 8,672 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Suburban Propane Partners by 80.2% during the third quarter. Private Advisor Group LLC now owns 32,174 shares of the energy company’s stock worth $757,000 after buying an additional 14,316 shares in the last quarter. Cowen Prime Services LLC grew its holdings in shares of Suburban Propane Partners by 74.6% during the third quarter. Cowen Prime Services LLC now owns 5,513 shares of the energy company’s stock worth $130,000 after buying an additional 2,356 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Suburban Propane Partners during the third quarter worth about $300,000. 29.71% of the stock is currently owned by institutional investors.

SPH has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Suburban Propane Partners from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, October 24th. ValuEngine upgraded shares of Suburban Propane Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $26.75.

SPH opened at $23.34 on Monday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 1.07. Suburban Propane Partners LP has a 1 year low of $21.85 and a 1 year high of $26.73. The company has a market capitalization of $1.43 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.80 and a beta of 0.53.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, November 15th. The energy company reported ($0.83) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.86) by $0.03. Suburban Propane Partners had a net margin of 5.69% and a return on equity of 13.02%. The business had revenue of $192.92 million for the quarter, compared to analysts’ expectations of $189.92 million. As a group, equities research analysts anticipate that Suburban Propane Partners LP will post 1.54 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Tuesday, November 6th were given a $0.60 dividend. The ex-dividend date was Monday, November 5th. This represents a $2.40 annualized dividend and a dividend yield of 10.28%. Suburban Propane Partners’s dividend payout ratio is presently 193.55%.

In related news, Director Jane Swift sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $23.67, for a total value of $35,505.00. Following the sale, the director now directly owns 13,581 shares of the company’s stock, valued at $321,462.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is currently owned by company insiders.

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Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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

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