Logan Harold R Jr, a director at Suburban Propane Partners LP (NYSE:SPH), recently sold 3,000 common units of the company. The transaction, completed on November 25, 2024, was executed at an average price of $18.261 per unit, totaling approximately $54,783. Following this sale, Harold retains ownership of 47,127 common units in the company. Suburban Propane, a notable player in the retail sector, continues to see active trading from its insiders.
In other recent news, Suburban Propane Partners reported mixed results for fiscal year 2024. Despite a decrease in propane volumes sold and adjusted EBITDA, the company made strategic acquisitions and advanced its renewable natural gas (RNG) operations. Suburban Propane Partners' net income for the fiscal year 2024 was $107.7 million, a decrease from the previous year's $138.4 million, and adjusted EBITDA fell to $250 million from $275 million. The company also added over 14,000 new customers through the acquisition of three propane businesses.
Despite challenges, Suburban Propane Partners' focus on long-term growth and strategic investments remains steadfast, 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 commitment to sustainability and employee welfare was highlighted through recognitions for workplace culture and energy transition efforts. These are among the recent developments for Suburban Propane Partners as it navigates through the fiscal year.
InvestingPro Insights
While Logan Harold R Jr's recent sale of Suburban Propane Partners LP (NYSE:SPH) units may raise eyebrows, it's essential 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 modest valuation compared to some industry peers.
One of the most compelling aspects of SPH for income-focused investors is its dividend yield, which currently stands at an attractive 6.86%. This aligns with an InvestingPro Tip highlighting that SPH "pays a significant dividend to shareholders." Moreover, the company has maintained dividend payments for an impressive 29 consecutive years, demonstrating a strong commitment to shareholder returns.
Despite the director's recent 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%. However, investors should note that revenue growth has been negative, with a 7.14% decline in the last twelve months.
For those interested in a deeper dive into SPH's financials and future prospects, InvestingPro offers 5 additional tips that could provide valuable insights for investment decisions.
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