Creative Planning Lowers Stock Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Creative Planning cut its stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,490 shares of the energy company’s stock after selling 2,603 shares during the period. Creative Planning’s holdings in Suburban Propane Partners were worth $511,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC grew its stake in shares of Suburban Propane Partners by 52.1% during the 2nd quarter. CWM LLC now owns 2,144 shares of the energy company’s stock valued at $41,000 after buying an additional 734 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Suburban Propane Partners by 64.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,550 shares of the energy company’s stock valued at $52,000 after buying an additional 1,000 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Suburban Propane Partners during the 2nd quarter valued at $193,000. Biechele Royce Advisors purchased a new stake in shares of Suburban Propane Partners during the 2nd quarter valued at $211,000. Finally, LRI Investments LLC purchased a new stake in shares of Suburban Propane Partners during the 1st quarter valued at $255,000. 30.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Wells Fargo & Company cut shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target for the company. in a research report on Friday, August 30th.

Suburban Propane Partners Stock Up 1.2 %

Shares of Suburban Propane Partners stock opened at $18.35 on Wednesday. The company has a fifty day moving average price of $18.09 and a 200 day moving average price of $18.65. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.98. Suburban Propane Partners, L.P. has a twelve month low of $15.20 and a twelve month high of $22.33. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 12.23 and a beta of 0.43.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, August 8th. The energy company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). Suburban Propane Partners had a return on equity of 16.69% and a net margin of 7.28%. The firm had revenue of $254.61 million during the quarter.

Suburban Propane Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be issued a $0.325 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.30 dividend on an annualized basis and a yield of 7.08%. Suburban Propane Partners’s dividend payout ratio is currently 86.67%.

Insiders Place Their Bets

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.37, for a total value of $43,425.00. Following the transaction, the director now owns 37,015 shares in the company, valued at $642,950.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Suburban Propane Partners 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.