Janney Montgomery Scott LLC Has $898,000 Stock Holdings in Suburban Propane Partners, L.P. (NYSE:SPH)

Janney Montgomery Scott LLC increased its position in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,029 shares of the energy company’s stock after acquiring an additional 1,818 shares during the period. Janney Montgomery Scott LLC’s holdings in Suburban Propane Partners were worth $898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SPH. CWM LLC lifted its stake in Suburban Propane Partners by 52.1% during the second quarter. CWM LLC now owns 2,144 shares of the energy company’s stock worth $41,000 after purchasing an additional 734 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Suburban Propane Partners in the second quarter valued at about $193,000. Biechele Royce Advisors bought a new position in Suburban Propane Partners in the second quarter valued at about $211,000. LRI Investments LLC bought a new position in Suburban Propane Partners in the first quarter valued at about $255,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Suburban Propane Partners in the first quarter worth about $295,000. 30.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SPH shares. StockNews.com lowered shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a 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 target price on the stock. in a research note on Friday, August 30th.

Suburban Propane Partners Stock Performance

Shares of SPH stock opened at $17.59 on Friday. The business’s 50-day moving average price is $18.23 and its 200-day moving average price is $18.59. 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 12 month low of $15.20 and a 12 month high of $22.33. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.73 and a beta of 0.43.

Suburban Propane Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.39%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 86.67%.

Insider Buying and Selling

In other news, Director Harold R. Logan, Jr. sold 2,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 37,015 shares in the company, valued at $642,950.55. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

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.