In a recent transaction involving Suburban Propane Partners LP (NYSE:SPH), Vice President and Treasurer Davin A. Dambrosio sold 6,500 common units of the company. The shares were sold at a price of $18.90 each, amounting to a total transaction value of $122,849. Following this sale, Dambrosio retains ownership of 76,176 shares in the company. This transaction was reported to the Securities and Exchange Commission on November 27, 2024.
In other recent news, Suburban Propane Partners reported mixed results for the fiscal year 2024. The company saw a decrease in propane volumes sold and adjusted EBITDA, with net income falling to $107.7 million from $138.4 million and EBITDA dropping to $250 million from $275 million. Despite these setbacks, the company made significant strategic acquisitions and advanced its renewable natural gas (RNG) operations. Suburban Propane's recent developments include the acquisition of three propane businesses and over 14,000 new customers. Despite the challenges faced in FY2024, the company remains focused on long-term growth and strategic investments, with expectations for fiscal 2025 capital expenditures ranging from $40 million to $45 million for propane and $35 million to $45 million for RNG projects. The company's dual strategy focuses on both propane growth and renewable energy investments. These are recent developments and do not predict future performance.
InvestingPro Insights
Suburban Propane Partners LP (NYSE:SPH) has been demonstrating a strong financial position, as evidenced by recent InvestingPro data. The company boasts a market capitalization of $1.24 billion and a P/E ratio of 16.78, suggesting a reasonable valuation relative to its earnings.
One of the most notable aspects of SPH's financial profile is its dividend policy. According to InvestingPro Tips, the company "pays a significant dividend to shareholders" and "has maintained dividend payments for 29 consecutive years." This commitment to shareholder returns is further underscored by the current dividend yield of 6.86%, which is particularly attractive in the current market environment.
Despite the recent insider sale by Vice President Dambrosio, SPH's financial metrics paint a picture of a company that remains profitable and committed to shareholder value. The company's revenue for the last twelve months stood at $1.33 billion, with a gross profit margin of 24.72%. While there has been a slight decline in revenue growth (-7.14% over the last twelve months), SPH has maintained profitability, with an operating income margin of 12.9%.
Investors considering SPH might be interested to know that InvestingPro offers additional insights, with 5 more tips available for this stock. These tips could provide valuable context for understanding the company's future prospects, especially in light of the recent insider transaction.
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