Suburban Propane Partners, L.P. (NYSE:SPH) to Issue Quarterly Dividend of $0.35

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.35 per share by the energy company on Tuesday, November 10th. This represents a $1.40 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 7.7% increase from Suburban Propane Partners’s previous quarterly dividend of $0.3250.

Suburban Propane Partners has decreased its dividend payment by an average of 0.1% annually over the last three years. Suburban Propane Partners has a dividend payout ratio of 76.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Suburban Propane Partners to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 63.4%.

Suburban Propane Partners Stock Performance

SPH stock traded up $0.45 during midday trading on Thursday, reaching $17.75. 178,794 shares of the company were exchanged, compared to its average volume of 173,850. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 2.12 and a beta of 0.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.78 and a quick ratio of 0.52. The business has a 50-day moving average price of $17.20 and a two-hundred day moving average price of $18.20. Suburban Propane Partners has a one year low of $16.25 and a one year high of $20.80.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, August 6th. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.11). Suburban Propane Partners had a net margin of 9.37% and a return on equity of 18.57%. The business had revenue of $261.38 million during the quarter, compared to the consensus estimate of $255.00 million. Equities research analysts forecast that Suburban Propane Partners will post 2.05 EPS for the current year.

About Suburban Propane Partners

Suburban Propane Partners, L.P. (NYSE:SPH) is a master limited partnership that distributes and sells propane and other energy products to residential, commercial, industrial, agricultural, and government customers. Its propane business supports heating, cooking, water heating, standby power generation, and vehicle-fueling applications.

The company also markets heating oil, kerosene, diesel fuel, gasoline, natural gas, and electricity in selected markets. Through its service operations, Suburban Propane provides equipment installation, maintenance, and repair services, including support for heating and cooling systems, generators, and related energy equipment.

Suburban Propane traces its roots to 1928 and has expanded through acquisitions and internal growth.