Today, Boston Financial Mangement LLC decides to keep it stake in Suburban Propane Partners LP (SPH) to the level of $224,000

Today, Boston Financial Mangement LLC decides to keep it stake in Suburban Propane Partners LP (SPH) to the level of $224,000

Boston Financial Mangement LLC decreased its position in Suburban Propane Partners LP (NYSE:SPH) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,725 shares of the company’s stock after selling 800 shares during the period. Boston Financial Mangement LLC’s holdings in Suburban Propane Partners were worth $224,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Sei Investments Co. increased its position in shares of Suburban Propane Partners by 135,450.0% in the third quarter. Sei Investments Co. now owns 5,422 shares of the company’s stock worth $181,000 after buying an additional 5,418 shares in the last quarter. US Bancorp DE increased its position in shares of Suburban Propane Partners by 13.0% in the third quarter. US Bancorp DE now owns 7,088 shares of the company’s stock worth $236,000 after buying an additional 816 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Suburban Propane Partners by 24.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,854 shares of the company’s stock worth $162,000 after buying an additional 950 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Suburban Propane Partners by 73.7% in the third quarter. Bank of New York Mellon Corp now owns 120,899 shares of the company’s stock worth $4,026,000 after buying an additional 51,305 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in shares of Suburban Propane Partners by 104.5% in the third quarter. NEXT Financial Group Inc now owns 21,366 shares of the company’s stock worth $711,000 after buying an additional 10,916 shares in the last quarter.

Suburban Propane Partners LP (NYSE:SPH) traded up 0.46% during midday trading on Friday, reaching $30.44. The company had a trading volume of 20,280 shares. Suburban Propane Partners LP has a 12 month low of $20.93 and a 12 month high of $37.10. The firm has a market capitalization of $1.85 billion, a PE ratio of 128.44 and a beta of 0.69. The firm’s 50-day moving average price is $31.24 and its 200 day moving average price is $32.89.

Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, November 10th. The company reported ($0.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by $0.17. The company earned $161 million during the quarter, compared to analysts’ expectations of $196.39 million. During the same quarter in the previous year, the business earned ($1.11) EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts anticipate that Suburban Propane Partners LP will post $1.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Tuesday, November 1st were issued a $0.887 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 11.71%.

A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Credit Suisse Group AG set a $30.00 price objective on Suburban Propane Partners and gave the stock a “sell” rating in a research report on Thursday, November 10th. Finally, Stifel Nicolaus raised Suburban Propane Partners from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $36.00 in a research report on Thursday, October 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $33.20.

In other news, Director John D. Collins sold 5,696 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $29.23, for a total value of $166,494.08. Following the transaction, the director now directly owns 32,445 shares in the company, valued at approximately $948,367.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP A Davin Dambrosio sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $31.00, for a total value of $170,500.00. Following the completion of the transaction, the vice president now owns 37,019 shares in the company, valued at $1,147,589. The disclosure for this sale can be found here.

Suburban Propane Partners Company Profile

Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.

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