Suburban Propane Partners LP (NYSE:SPH) declared a quarterly dividend on Thursday, January 23rd, Zacks reports. Stockholders of record on Tuesday, February 4th will be paid a dividend of 0.60 per share by the energy company on Tuesday, February 11th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date of this dividend is Monday, February 3rd.
Suburban Propane Partners has decreased its dividend payment by an average of 12.2% annually over the last three years. Suburban Propane Partners has a dividend payout ratio of 195.1% indicating that 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 $1.59 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 150.9%.
Shares of Suburban Propane Partners stock opened at $22.78 on Friday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 4.10 and a beta of 0.84. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.36 and a current ratio of 0.57. The stock has a 50 day moving average price of $22.16 and a 200-day moving average price of $23.13. Suburban Propane Partners has a one year low of $21.13 and a one year high of $24.89.
A number of brokerages have recently commented on SPH. Zacks Investment Research upgraded Suburban Propane Partners from a “strong sell” rating to a “hold” rating and set a $25.00 target price for the company in a report on Thursday, January 16th. ValuEngine upgraded Suburban Propane Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, TheStreet cut Suburban Propane Partners from a “b-” rating to a “c+” rating in a report on Tuesday, December 17th.
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.
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