Elite Wealth Management LLC Purchases New Position in Suburban Propane Partners, L.P. (SPH)

Elite Wealth Management LLC purchased a new position in Suburban Propane Partners, L.P. (NYSE:SPH) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,000 shares of the company’s stock, valued at approximately $100,000.

A number of other hedge funds have also modified their holdings of SPH. Mosaic Family Wealth LLC increased its stake in shares of Suburban Propane Partners, L.P. by 0.4% in the third quarter. Mosaic Family Wealth LLC now owns 4,224 shares of the company’s stock worth $141,000 after buying an additional 18 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Suburban Propane Partners, L.P. by 64.4% in the third quarter. Cetera Advisor Networks LLC now owns 18,249 shares of the company’s stock worth $608,000 after buying an additional 7,151 shares during the last quarter. Mcdaniel Terry & Co. increased its stake in shares of Suburban Propane Partners, L.P. by 10.0% in the third quarter. Mcdaniel Terry & Co. now owns 6,600 shares of the company’s stock worth $220,000 after buying an additional 600 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Suburban Propane Partners, L.P. by 1.4% in the third quarter. BB&T Securities LLC now owns 27,272 shares of the company’s stock worth $908,000 after buying an additional 378 shares during the last quarter. Finally, HAP Trading LLC acquired a new stake in shares of Suburban Propane Partners, L.P. during the third quarter worth $371,000. Hedge funds and other institutional investors own 29.05% of the company’s stock.

Institutional Ownership by Quarter for Suburban Propane Partners, L.P. (NYSE:SPH)

Suburban Propane Partners, L.P. (NYSE:SPH) traded down 1.07% during trading on Monday, reaching $29.58. The company’s stock had a trading volume of 117,794 shares. The firm has a market cap of $1.81 billion, a PE ratio of 49.22 and a beta of 0.88. The company has a 50-day moving average of $30.54 and a 200 day moving average of $31.64. Suburban Propane Partners, L.P. has a one year low of $21.81 and a one year high of $37.10.

Suburban Propane Partners, L.P. (NYSE:SPH) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.12. Suburban Propane Partners, L.P. had a return on equity of 4.69% and a net margin of 3.37%. The business earned $317.30 million during the quarter, compared to the consensus estimate of $355.85 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Analysts expect that Suburban Propane Partners, L.P. will post $1.41 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 7th. Shareholders of record on Tuesday, January 31st were given a $0.8875 dividend. The ex-dividend date of this dividend was Friday, January 27th. This is an increase from Suburban Propane Partners, L.P.’s previous quarterly dividend of $0.89. This represents a $3.55 annualized dividend and a yield of 11.87%. Suburban Propane Partners, L.P.’s dividend payout ratio (DPR) is presently 601.71%.

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A number of brokerages have weighed in on SPH. Zacks Investment Research upgraded Suburban Propane Partners, L.P. from a “strong sell” rating to a “hold” rating in a report on Thursday. Credit Suisse Group set a $30.00 target price on Suburban Propane Partners, L.P. and gave the company a “sell” rating in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.20.

In other Suburban Propane Partners, L.P. news, Director Lawrence C. Caldwell purchased 4,400 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were acquired at an average cost of $28.43 per share, for a total transaction of $125,092.00. Following the completion of the transaction, the director now owns 41,319 shares of the company’s stock, valued at $1,174,699.17. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sandra N. Zwickel sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $29.21, for a total transaction of $58,420.00. Following the completion of the transaction, the vice president now owns 21,383 shares in the company, valued at $624,597.43. The disclosure for this sale can be found here. Insiders sold 22,796 shares of company stock worth $681,124 over the last quarter. Insiders own 0.64% of the company’s stock.

Suburban Propane Partners, L.P. Company Profile

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.

5 Day Chart for NYSE:SPH

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