Suburban Propane Partners LP (NYSE:SPH) Plans $0.30 Quarterly Dividend

Suburban Propane Partners LP (NYSE:SPH) announced a quarterly dividend on Thursday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 4th will be paid a dividend of 0.30 per share by the energy company on Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 9.05%. The ex-dividend date of this dividend is Monday, August 3rd.

Suburban Propane Partners has decreased its dividend by an average of 32.4% per year over the last three years. Suburban Propane Partners has a dividend payout ratio of 303.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Suburban Propane Partners to earn $0.97 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 247.4%.

NYSE:SPH opened at $13.26 on Friday. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.85 and a quick ratio of 0.65. Suburban Propane Partners has a one year low of $8.64 and a one year high of $24.89. The company has a market cap of $823.87 million, a PE ratio of 22.86 and a beta of 1.07. The firm has a 50-day moving average of $14.36 and a 200-day moving average of $16.28.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings data on Thursday, May 7th. The energy company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.33). Suburban Propane Partners had a return on equity of 8.15% and a net margin of 3.34%. The company had revenue of $401.06 million for the quarter, compared to the consensus estimate of $432.97 million. On average, equities research analysts expect that Suburban Propane Partners will post 0.4 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the stock. Raymond James cut their price objective on shares of Suburban Propane Partners from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Wells Fargo & Co increased their price objective on shares of Suburban Propane Partners from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Zacks Investment Research downgraded Suburban Propane Partners from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.67.

About Suburban Propane Partners

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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Dividend History for Suburban Propane Partners (NYSE:SPH)

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