Separately, TheStreet upgraded Suburban Propane Partners from a c+ rating to a b- rating in a report on Thursday, October 26th.
Suburban Propane Partners Stock Performance
Suburban Propane Partners Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, November 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date of this dividend was Monday, November 6th. Suburban Propane Partners’s dividend payout ratio (DPR) is 67.71%.
Hedge Funds Weigh In On Suburban Propane Partners
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Suburban Propane Partners by 104,015.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 66,827,339 shares of the energy company’s stock worth $1,014,439,000 after purchasing an additional 66,763,153 shares during the period. JPMorgan Chase & Co. bought a new position in Suburban Propane Partners in the 4th quarter valued at $20,323,000. Bowen Hanes & Co. Inc. grew its position in Suburban Propane Partners by 2.6% in the 3rd quarter. Bowen Hanes & Co. Inc. now owns 790,000 shares of the energy company’s stock valued at $12,680,000 after acquiring an additional 20,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Suburban Propane Partners by 4.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 747,069 shares of the energy company’s stock valued at $11,990,000 after acquiring an additional 30,062 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Suburban Propane Partners by 18.0% in the 3rd quarter. Clearbridge Investments LLC now owns 679,479 shares of the energy company’s stock valued at $10,906,000 after acquiring an additional 103,461 shares during the last quarter. Hedge funds and other institutional investors own 17.49% of the company’s stock.
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. The company operates through 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 for space heating, water heating, cooking, and clothes drying in the residential and commercial markets; for use as a motor fuel in internal combustion engines to power over-the-road vehicles, forklifts, and stationary engines, as well as to fire furnaces as a cutting gas to the industrial customers; and for tobacco curing, crop drying, poultry brooding, and weed control in the agricultural markets.
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