Suburban Propane Partners, L.P. (SPH) to Issue Quarterly Dividend of $0.33 on May 10th

Suburban Propane Partners, L.P. (NYSE:SPHGet Rating) declared a quarterly dividend on Thursday, April 21st, Zacks reports. Stockholders of record on Tuesday, May 3rd will be paid a dividend of 0.325 per share by the energy company on Tuesday, May 10th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date is Monday, May 2nd.

Suburban Propane Partners has decreased its dividend payment by an average of 19.5% per year over the last three years and has raised its dividend every year for the last 1 years. Suburban Propane Partners has a payout ratio of 63.4% meaning its dividend is sufficiently covered by earnings.

Shares of SPH opened at $16.80 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.55 and a debt-to-equity ratio of 2.72. The firm has a market cap of $1.06 billion, a PE ratio of 9.94 and a beta of 0.66. The company’s 50 day simple moving average is $15.83 and its 200-day simple moving average is $15.32. Suburban Propane Partners has a 12-month low of $13.83 and a 12-month high of $17.52.

Suburban Propane Partners (NYSE:SPHGet Rating) last announced its earnings results on Thursday, February 3rd. The energy company reported $0.34 earnings per share (EPS) for the quarter. The business had revenue of $375.41 million for the quarter. Suburban Propane Partners had a net margin of 7.81% and a return on equity of 23.56%.

A number of equities analysts have recently issued reports on SPH shares. TheStreet upgraded shares of Suburban Propane Partners from a “c+” rating to a “b-” rating in a research report on Wednesday, January 26th. Zacks Investment Research lowered shares of Suburban Propane Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 12th. Finally, StockNews.com started coverage on shares of Suburban Propane Partners in a research report on Thursday, March 31st. They issued a “buy” rating on the stock.

A number of large investors have recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in Suburban Propane Partners by 8.7% in the second quarter. Morgan Stanley now owns 2,064,362 shares of the energy company’s stock valued at $31,668,000 after acquiring an additional 165,875 shares during the period. Wells Fargo & Company MN lifted its holdings in Suburban Propane Partners by 48.5% in the second quarter. Wells Fargo & Company MN now owns 147,901 shares of the energy company’s stock valued at $2,269,000 after acquiring an additional 48,336 shares during the period. LPL Financial LLC lifted its holdings in Suburban Propane Partners by 5.3% in the fourth quarter. LPL Financial LLC now owns 67,193 shares of the energy company’s stock valued at $984,000 after acquiring an additional 3,375 shares during the period. Royal Bank of Canada lifted its holdings in Suburban Propane Partners by 200.3% in the third quarter. Royal Bank of Canada now owns 55,832 shares of the energy company’s stock valued at $856,000 after acquiring an additional 37,243 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Suburban Propane Partners by 6.0% in the fourth quarter. Stifel Financial Corp now owns 22,085 shares of the energy company’s stock valued at $324,000 after acquiring an additional 1,245 shares during the period. Hedge funds and other institutional investors own 22.52% of the company’s stock.

About Suburban Propane Partners (Get Rating)

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company operates in four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.

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Dividend History for Suburban Propane Partners (NYSE:SPH)

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