Short Interest in Suburban Propane Partners, L.P. (NYSE:SPH) Declines By 20.9%

Suburban Propane Partners, L.P. (NYSE:SPH) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 411,399 shares, a decrease of 20.9% from the December 31st total of 520,291 shares. Based on an average daily trading volume, of 128,332 shares, the short-interest ratio is presently 3.2 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 128,332 shares, the short-interest ratio is presently 3.2 days.

Institutional Investors Weigh In On Suburban Propane Partners

Several hedge funds have recently modified their holdings of SPH. Alps Advisors Inc. grew its stake in Suburban Propane Partners by 3.1% in the 3rd quarter. Alps Advisors Inc. now owns 14,327,026 shares of the energy company’s stock worth $267,199,000 after acquiring an additional 433,748 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Suburban Propane Partners by 4.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock valued at $77,912,000 after purchasing an additional 192,154 shares during the period. Goldman Sachs Group Inc. raised its stake in Suburban Propane Partners by 11.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock worth $28,795,000 after purchasing an additional 142,547 shares during the period. JPMorgan Chase & Co. boosted its holdings in Suburban Propane Partners by 18.7% in the second quarter. JPMorgan Chase & Co. now owns 1,266,303 shares of the energy company’s stock valued at $23,465,000 after acquiring an additional 199,693 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. lifted its stake in shares of Suburban Propane Partners by 24.5% in the 3rd quarter. Bowen Hanes & Co. Inc. now owns 1,016,000 shares of the energy company’s stock valued at $18,948,000 after purchasing an additional 200,000 shares in the last quarter. 30.94% of the stock is owned by institutional investors and hedge funds.

Suburban Propane Partners Price Performance

SPH traded down $0.18 on Friday, hitting $20.23. 173,876 shares of the company were exchanged, compared to its average volume of 126,078. The business’s fifty day moving average is $19.07 and its 200 day moving average is $18.72. Suburban Propane Partners has a fifty-two week low of $17.30 and a fifty-two week high of $22.24. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.31 and a current ratio of 0.55. The firm has a market capitalization of $1.34 billion, a P/E ratio of 12.33 and a beta of 0.41.

Suburban Propane Partners (NYSE:SPH) last posted its earnings results on Thursday, November 13th. The energy company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The firm had revenue of $211.38 million for the quarter, compared to analysts’ expectations of $227.00 million. Suburban Propane Partners had a return on equity of 16.31% and a net margin of 7.44%.

Suburban Propane Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Tuesday, February 3rd will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Tuesday, February 3rd. Suburban Propane Partners’s payout ratio is currently 79.27%.

Wall Street Analyst Weigh In

SPH has been the subject of a number of recent research reports. Zacks Research raised Suburban Propane Partners to a “hold” rating in a research report on Friday, January 23rd. Argus raised Suburban Propane Partners to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Suburban Propane Partners in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Suburban Propane Partners currently has an average rating of “Moderate Buy”.

Suburban Propane Partners Company Profile

Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.

The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.