Raymond James Financial Inc. Purchases New Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Raymond James Financial Inc. acquired a new position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) during the 4th quarter, Holdings Channel.com reports. The firm acquired 202,006 shares of the energy company’s stock, valued at approximately $3,474,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Suburban Propane Partners in the 4th quarter valued at about $24,340,000. JPMorgan Chase & Co. increased its holdings in Suburban Propane Partners by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 643,916 shares of the energy company’s stock valued at $11,552,000 after buying an additional 155,360 shares during the period. Levin Capital Strategies L.P. raised its stake in Suburban Propane Partners by 10.3% in the fourth quarter. Levin Capital Strategies L.P. now owns 194,186 shares of the energy company’s stock worth $3,340,000 after buying an additional 18,196 shares in the last quarter. Private Advisor Group LLC raised its stake in Suburban Propane Partners by 3.8% in the fourth quarter. Private Advisor Group LLC now owns 67,253 shares of the energy company’s stock worth $1,157,000 after buying an additional 2,448 shares in the last quarter. Finally, Wealthstar Advisors LLC purchased a new stake in Suburban Propane Partners during the fourth quarter worth $554,000. 30.94% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Douglas Brinkworth sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 159,355 shares in the company, valued at $3,266,777.50. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael A. Schueler sold 7,746 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $20.93, for a total transaction of $162,123.78. Following the completion of the sale, the vice president now owns 11,133 shares of the company’s stock, valued at $233,013.69. This trade represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Suburban Propane Partners Trading Up 0.9 %

NYSE SPH opened at $21.19 on Friday. Suburban Propane Partners, L.P. has a 52 week low of $15.20 and a 52 week high of $22.24. The company has a 50 day moving average price of $20.78 and a 200 day moving average price of $19.13. 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 firm has a market cap of $1.37 billion, a PE ratio of 19.99 and a beta of 0.46.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, February 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.46). Suburban Propane Partners had a net margin of 5.18% and a return on equity of 11.81%. During the same period last year, the company earned $0.38 earnings per share.

Suburban Propane Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend was Tuesday, February 4th. Suburban Propane Partners’s payout ratio is currently 122.64%.

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.