Suburban Propane Partners, L.P. to Issue Quarterly Dividend of $0.33 (NYSE:SPH)

Suburban Propane Partners, L.P. (NYSE:SPH) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, May 7th will be paid a dividend of 0.325 per share by the energy company on Tuesday, May 14th. This represents a $1.30 annualized dividend and a yield of 6.55%. The ex-dividend date of this dividend is Monday, May 6th.

Suburban Propane Partners has decreased its dividend by an average of 10.3% annually over the last three years. Suburban Propane Partners has a payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings.

Suburban Propane Partners Stock Up 0.4 %

Shares of SPH opened at $19.85 on Friday. The stock has a market capitalization of $1.27 billion, a PE ratio of 12.48 and a beta of 0.43. Suburban Propane Partners has a 1 year low of $14.42 and a 1 year high of $22.33. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.52 and a current ratio of 0.72. The company’s 50-day simple moving average is $20.29 and its 200-day simple moving average is $18.60.

Suburban Propane Partners (NYSE:SPH) last issued its earnings results on Thursday, February 8th. The energy company reported $0.38 earnings per share for the quarter. The firm had revenue of $365.83 million for the quarter. Suburban Propane Partners had a net margin of 7.36% and a return on equity of 17.97%.

Insiders Place Their Bets

In other Suburban Propane Partners news, SVP Neil Scanlon sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.33, for a total transaction of $502,580.00. Following the sale, the senior vice president now owns 162,129 shares of the company’s stock, valued at $3,133,953.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho cut shares of Suburban Propane Partners from a “neutral” rating to an “underperform” rating and raised their target price for the company from $16.00 to $17.00 in a report on Monday, January 29th. StockNews.com cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 18th.

About Suburban Propane Partners

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.