Suburban Propane Partners LP - Unit (SPH) Declares $0.32 Dividend

Suburban Propane Partners LP - Unit said on April 20, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.30 annualized). Previously, the company paid $0.32 per share.

Shares must be purchased before the ex-div date of May 1, 2023 to qualify for the dividend. Shareholders of record as of May 2, 2023 will receive the payment on May 9, 2023.

At the current share price of $15.38 / share, the stock's dividend yield is 8.45%. Looking back five years and taking a sample every week, the average dividend yield has been 9.78%, the lowest has been 6.69%, and the highest has been 21.47%. The standard deviation of yields is 2.47 (n=236).

The current dividend yield is 0.54 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.50. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.46%.

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What is the Fund Sentiment?

There are 172 funds or institutions reporting positions in Suburban Propane Partners LP - Unit. This is an increase of 1 owner(s) or 0.58% in the last quarter. Average portfolio weight of all funds dedicated to SPH is 0.09%, a decrease of 23.36%. Total shares owned by institutions decreased in the last three months by 10.87% to 15,864K shares. The put/call ratio of SPH is 0.98, indicating a bullish outlook.

Analyst Price Forecast Suggests 12.74% Upside

As of April 6, 2023, the average one-year price target for Suburban Propane Partners LP - Unit is $17.34. The forecasts range from a low of $17.17 to a high of $17.85. The average price target represents an increase of 12.74% from its latest reported closing price of $15.38.

See our leaderboard of companies with the largest price target upside.

The projected annual non-GAAP EPS is $2.48.

What are Other Shareholders Doing?

PEAK6 Investments holds 19K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 33K shares, representing a decrease of 70.00%. The firm decreased its portfolio allocation in SPH by 17.93% over the last quarter.

Farmers & Merchants Trust Co of Chambersburg PA holds 5K shares representing 0.01% ownership of the company. No change in the last quarter.

Creative Planning holds 26K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 23K shares, representing an increase of 14.81%. The firm increased its portfolio allocation in SPH by 2.78% over the last quarter.

First Republic Investment Management holds 105K shares representing 0.17% ownership of the company. In it's prior filing, the firm reported owning 103K shares, representing an increase of 1.61%. The firm decreased its portfolio allocation in SPH by 99.91% over the last quarter.

AdvisorNet Financial holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 91.20%. The firm decreased its portfolio allocation in SPH by 98.84% over the last quarter.

Suburban Propane Partners Background Information
(This description is provided by the company.)

Suburban Propane Partners, L.P. is a publicly-traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban has been in the customer service business since 1928. The Partnership serves the energy needs of approximately 1.0 million residential, commercial, industrial and agricultural customers through approximately 700 locations in 41 states.

This story originally appeared on Fintel.