Suburban Propane Partners (NYSE:SPH) Sees Unusually-High Trading Volume – Should You Buy?

Suburban Propane Partners, L.P. (NYSE:SPH) shares saw unusually-high trading volume on Wednesday . Approximately 77,284 shares traded hands during mid-day trading, a decline of 65% from the previous session’s volume of 221,141 shares.The stock last traded at $19.06 and had previously closed at $18.96.

Wall Street Analyst Weigh In

Several research firms recently commented on SPH. Wells Fargo & Company downgraded shares of Suburban Propane Partners from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research note on Friday, August 30th. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th.

Suburban Propane Partners Price Performance

The stock has a market cap of $1.24 billion, a P/E ratio of 16.97 and a beta of 0.43. The business has a 50-day simple moving average of $18.34 and a 200 day simple moving average of $18.52. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were paid a $0.325 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.30 annualized dividend and a dividend yield of 6.72%. Suburban Propane Partners’s dividend payout ratio is currently 114.04%.

Insider Activity at Suburban Propane Partners

In other Suburban Propane Partners news, Director Harold R. Logan, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.37, for a total transaction of $43,425.00. Following the completion of the sale, the director now directly owns 37,015 shares of the company’s stock, valued at approximately $642,950.55. The trade was a 6.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP A Davin Dambrosio sold 6,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $18.90, for a total value of $122,850.00. Following the transaction, the vice president now owns 76,176 shares in the company, valued at approximately $1,439,726.40. This trade represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,800 shares of company stock valued at $215,891 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors bought a new position in Suburban Propane Partners in the 3rd quarter valued at $270,000. Oppenheimer & Co. Inc. grew its holdings in shares of Suburban Propane Partners by 7.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,961 shares of the energy company’s stock valued at $197,000 after purchasing an additional 800 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Suburban Propane Partners by 3.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,029 shares of the energy company’s stock worth $898,000 after purchasing an additional 1,818 shares during the period. Greenup Street Wealth Management LLC lifted its stake in Suburban Propane Partners by 8.1% in the third quarter. Greenup Street Wealth Management LLC now owns 22,425 shares of the energy company’s stock worth $402,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its position in Suburban Propane Partners by 4.2% during the third quarter. Simplicity Wealth LLC now owns 22,963 shares of the energy company’s stock valued at $412,000 after buying an additional 936 shares during the period. Institutional investors own 30.94% of the company’s stock.

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.