Trade Report: Today, Suburban Propane Partners LP (SPH) Position Held by Commerce Bank

Today, Suburban Propane Partners LP (SPH) Position Held by Commerce Bank

Commerce Bank maintained its stake in Suburban Propane Partners LP (NYSE:SPH) during the third quarter, Holdings Channel reports. The firm owned 57,048 shares of the company’s stock at the end of the third quarter. Commerce Bank owned approximately 0.09% of Suburban Propane Partners worth $1,900,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in 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. NEXT Financial Group Inc increased its stake in 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. Willingdon Wealth Management increased its stake in Suburban Propane Partners by 81.0% in the third quarter. Willingdon Wealth Management now owns 56,941 shares of the company’s stock worth $1,896,000 after buying an additional 25,482 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Suburban Propane Partners by 2.2% in the third quarter. HITE Hedge Asset Management LLC now owns 438,236 shares of the company’s stock worth $14,593,000 after buying an additional 9,300 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in Suburban Propane Partners by 3.2% in the third quarter. Commonwealth Equity Services Inc now owns 53,684 shares of the company’s stock worth $1,788,000 after buying an additional 1,662 shares in the last quarter.

Suburban Propane Partners LP (NYSE:SPH) traded up 0.03% on Friday, reaching $30.31. The company’s stock had a trading volume of 74,295 shares. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 127.89 and a beta of 0.69. Suburban Propane Partners LP has a 52-week low of $20.93 and a 52-week high of $37.10. 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 quarterly earnings data 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 the consensus estimate of $196.39 million. During the same quarter last year, the business posted ($1.11) earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities analysts expect that Suburban Propane Partners LP will post $1.82 earnings per share for the current year.

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

A number of research firms recently commented on SPH. Zacks Investment Research downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. Credit Suisse Group AG set a $30.00 price objective on Suburban Propane Partners and gave the company a “sell” rating in a report on Thursday, November 10th. Finally, Stifel Nicolaus upgraded Suburban Propane Partners from a “hold” rating to a “buy” rating and upped their price objective for the company from $34.00 to $36.00 in a report on Thursday, October 13th. One research 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’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.20.

In related news, Director John D. Collins sold 5,696 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $29.23, for a total transaction of $166,494.08. Following the sale, the director now owns 32,445 shares of the company’s stock, valued at approximately $948,367.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Keith P. Onderdonk sold 4,100 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $28.10, for a total value of $115,210.00. Following the transaction, the insider now directly owns 26,222 shares of the company’s stock, valued at $736,838.20. The disclosure for this sale can be found here.

About Suburban Propane Partners

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.

Related posts

Leave a Comment