WHIPPANY, N.J.—Jane Swift, a director at Suburban Propane Partners LP (NYSE:SPH), has sold 7,438 common units of the company, according to a recent SEC filing. The shares were sold at an average price of $18.7207 each, totaling approximately $139,244. Following this transaction, Swift retains ownership of 36,809 shares in the company.
The sale was executed on November 26, 2024, with the transaction reported by Bryon Koepke, acting under power of attorney. Suburban Propane Partners LP, based in Whippany, New Jersey, is involved in the retail distribution of propane and other energy products.
In other recent news, Suburban Propane Partners reported mixed results for the fiscal year 2024. The company experienced a decrease in propane volumes sold and adjusted EBITDA due to warmer weather, yet strategically expanded its operations through acquisitions and advancements in renewable natural gas (RNG). Net income for FY2024 was $107.7 million, down from the previous year's $138.4 million, and EBITDA dropped to $250 million from $275 million. Despite these challenges, Suburban Propane acquired three propane businesses and over 14,000 new customers, enhancing its market presence. The company also advanced its RNG operations, with plans for additional facilities to be operational by late 2025. These are recent developments that reflect the company's commitment to long-term growth and strategic investments, balancing its core propane business with renewable energy opportunities.
InvestingPro Insights
While Jane Swift's recent sale of Suburban Propane Partners LP (NYSE:SPH) shares might raise eyebrows, it's crucial to consider the broader financial picture of the company. According to InvestingPro data, SPH boasts a market capitalization of $1.21 billion and a P/E ratio of 16.23, suggesting a relatively moderate valuation in the energy sector.
One of the standout features of SPH is its commitment to shareholder returns. An InvestingPro Tip highlights that the company "pays a significant dividend to shareholders," with a current dividend yield of 6.86%. This aligns with another InvestingPro Tip noting that SPH "has maintained dividend payments for 29 consecutive years," underscoring its reliability as an income-generating investment.
Despite the director's sale, SPH's financial health appears robust. The company has been profitable over the last twelve months, with a gross profit of $328.12 million and an operating income margin of 12.9%. These figures suggest that SPH maintains a solid financial foundation, which could provide context for Swift's decision to sell a portion of her holdings while retaining a significant stake.
Investors seeking a more comprehensive analysis can access additional insights through InvestingPro, which offers over 10 more tips for Suburban Propane Partners LP.
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