Levin Capital Strategies L.P. Lowers Position in Suburban Propane Partners, L.P. (NYSE:SPH)

Levin Capital Strategies L.P. lessened its stake in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 25.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 326,523 shares of the energy company’s stock after selling 109,268 shares during the period. Levin Capital Strategies L.P.’s holdings in Suburban Propane Partners were worth $5,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its position in Suburban Propane Partners by 16.5% during the 4th quarter. AdvisorNet Financial Inc now owns 4,162 shares of the energy company’s stock valued at $74,000 after buying an additional 591 shares in the last quarter. Archer Investment Corp increased its holdings in shares of Suburban Propane Partners by 57.2% in the 3rd quarter. Archer Investment Corp now owns 11,000 shares of the energy company’s stock worth $177,000 after purchasing an additional 4,003 shares in the last quarter. Spirit of America Management Corp NY bought a new stake in shares of Suburban Propane Partners in the 4th quarter worth $178,000. Lincoln National Corp bought a new stake in shares of Suburban Propane Partners in the 3rd quarter worth $183,000. Finally, Sigma Planning Corp increased its holdings in shares of Suburban Propane Partners by 3.4% in the 3rd quarter. Sigma Planning Corp now owns 18,609 shares of the energy company’s stock worth $299,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 30.94% of the company’s stock.

Suburban Propane Partners Stock Performance

NYSE SPH traded up $0.02 on Thursday, hitting $19.91. 85,835 shares of the company traded hands, compared to its average volume of 300,641. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.50 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.52 and a debt-to-equity ratio of 2.26. The business’s 50 day moving average price is $20.26 and its 200-day moving average price is $18.71. Suburban Propane Partners, L.P. has a 52-week low of $14.42 and a 52-week high of $22.33.

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

Suburban Propane Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.325 per share. The ex-dividend date is Monday, May 6th. This represents a $1.30 annualized dividend and a yield of 6.53%. Suburban Propane Partners’s dividend payout ratio (DPR) is presently 81.76%.

Insider Activity

In other news, SVP Neil Scanlon sold 26,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.33, for a total value of $502,580.00. Following the transaction, the senior vice president now directly owns 162,129 shares in the company, valued at $3,133,953.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

SPH has been the subject of a number of research analyst reports. StockNews.com lowered Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Mizuho downgraded Suburban Propane Partners from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 29th.

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.