Suburban Propane Partners LP (NYSE:sph) announced a dividend on Thursday, April 20th. Stockholders of record on Tuesday, May 2nd will be given a dividend of 0.887 per share by the energy company on Tuesday, May 9th. The ex-dividend date is Friday, April 28th.

Suburban Propane Partners has raised its dividend payment by an average of 0.5% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Suburban Propane Partners has a payout ratio of 244.8% 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 $1.85 per share next year, which means the company may not be able to cover its $3.55 annual dividend with an expected future payout ratio of 191.9%.

Suburban Propane Partners (NYSE:SPH) traded up 0.49% during mid-day trading on Friday, hitting $26.52. 252,052 shares of the stock traded hands. Suburban Propane Partners has a 1-year low of $24.00 and a 1-year high of $37.10. The stock has a 50-day moving average of $25.92 and a 200 day moving average of $29.10. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 44.13 and a beta of 0.88.

Suburban Propane Partners (NYSE:SPH) last issued its quarterly earnings results on Thursday, February 2nd. The energy company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.12. Suburban Propane Partners had a net margin of 3.37% and a return on equity of 4.69%. The business earned $317.30 million during the quarter, compared to analyst estimates of $355.85 million. During the same period in the previous year, the company posted $0.20 earnings per share. Suburban Propane Partners’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that Suburban Propane Partners will post $1.33 EPS for the current year.

Dividend History for Suburban Propane Partners (NYSE:sph)

In other news, Director William M. Landuyt acquired 4,000 shares of Suburban Propane Partners stock in a transaction on Wednesday, March 15th. The stock was bought at an average cost of $24.38 per share, with a total value of $97,520.00. Following the completion of the purchase, the director now owns 20,560 shares of the company’s stock, valued at $501,252.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harold R. Logan, Jr. sold 3,500 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $26.18, for a total transaction of $91,630.00. Following the sale, the director now directly owns 27,574 shares of the company’s stock, valued at $721,887.32. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on SPH shares. Zacks Investment Research raised shares of Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, February 9th. Stifel Nicolaus downgraded shares of Suburban Propane Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $34.00 to $29.00 in a report on Tuesday, February 14th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.80.

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About Suburban Propane Partners

Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company’s segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

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