Michael A. Schueler, who recently retired as Vice President of Product Supply at Suburban Propane Partners LP (NYSE:SPH), has sold a portion of his holdings in the company. According to a recent SEC filing, Schueler disposed of 7,746 common units, representing limited partnership interests, at a price of $20.93 per share. The total value of the transaction amounted to $162,123. The sale comes as SPH trades near its 52-week high of $21.89, with the stock showing remarkable strength through a 31.62% gain over the past six months, according to InvestingPro data.
Following this sale, Schueler retains ownership of 11,133 common units. The transaction was finalized on February 11, 2025, and was executed directly by Schueler. This move comes shortly after his retirement, which took effect on January 1, 2025. Notably, SPH maintains a significant 6.13% dividend yield and has consistently paid dividends for 30 consecutive years. For deeper insights into SPH's insider trading patterns and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro, covering over 1,400 US equities.
In other recent news, Suburban Propane Partners LP reported its Q1 2025 earnings, revealing some significant developments. The company's earnings per share (EPS) of $0.30 fell short of the anticipated $0.65, missing expectations by over 53%. However, Suburban Propane's revenue reached $373.3 million, exceeding the forecasted $359.79 million. These recent developments highlight a challenging operating environment for the company, marked by unseasonably warm weather which led to a slight decrease in propane sales. Despite these challenges, Suburban Propane maintained its adjusted EBITDA at $75.3 million, demonstrating resilience against broader market pressures. The company's strategic investments in renewable energy and acquisitions have helped offset some of these challenges. Looking forward, Suburban Propane projects continued capital spending in both propane operations and renewable natural gas (RNG) projects, with a focus on improving the company's leverage ratio and supporting its transition to low-carbon energy solutions.
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