Suburban Propane Partners LP (NYSE:SPH) announced a quarterly dividend on Thursday, July 25th, NASDAQ reports. Stockholders of record on Tuesday, August 6th will be paid a dividend of 0.60 per share by the energy company on Tuesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.93%. The ex-dividend date is Monday, August 5th.
Suburban Propane Partners has decreased its dividend by an average of 12.1% annually over the last three years. Suburban Propane Partners has a payout ratio of 205.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Suburban Propane Partners to earn $1.54 per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of 155.8%.
Shares of NYSE:SPH opened at $24.17 on Friday. The business has a 50 day simple moving average of $24.01. Suburban Propane Partners has a twelve month low of $18.63 and a twelve month high of $24.89. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 2.18. The company has a market cap of $1.50 billion, a PE ratio of 18.89, a PEG ratio of 5.03 and a beta of 0.86.
In other news, CFO Michael Kuglin sold 5,835 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.41, for a total value of $136,597.35. Following the transaction, the chief financial officer now owns 76,604 shares in the company, valued at approximately $1,793,299.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel S. Bloomstein sold 3,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $24.30, for a total transaction of $72,900.00. Following the completion of the transaction, the vice president now owns 24,778 shares in the company, valued at approximately $602,105.40. The disclosure for this sale can be found here. Insiders sold a total of 32,218 shares of company stock worth $767,675 in the last quarter. Company insiders own 0.75% of the company’s stock.
Several equities analysts have recently weighed in on SPH shares. Zacks Investment Research cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. ValuEngine cut shares of Suburban Propane Partners from a “hold” rating to a “sell” rating in a research note on Thursday.
Suburban Propane Partners Company Profile
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.
Further Reading: Golden Cross
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