Michael A. Schueler, Vice President of Product Supply at Suburban Propane Partners LP (NYSE:SPH), a $1.25 billion market cap company known for its 29-year track record of consecutive dividend payments, recently sold 5,335 common units of the company, valued at approximately $103,040. The company currently offers a notable 6.6% dividend yield. The transaction took place on December 4, 2024, at an average price of $19.3141 per share. Following this sale, Schueler holds 18,879 shares directly. The transaction was disclosed in a filing with the Securities and Exchange Commission. According to InvestingPro analysis, SPH's stock has delivered a solid 21.9% return over the past year, with current trading levels suggesting the stock is fairly valued. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
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, with net income declining to $107.7 million from $138.4 million and EBITDA dropping to $250 million from $275 million. Despite these challenges, the company made strategic acquisitions, adding over 14,000 new customers and advanced in renewable natural gas (RNG) operations. The firm's commitment to long-term growth and strategic investments remained steadfast amidst these developments. It was also noted that the company plans to have additional RNG facilities operational by late 2025. In terms of future expectations, the company anticipates fiscal 2025 capital expenditures to range from $40 million to $45 million for propane and $35 million to $45 million for RNG projects. These are some of the recent developments that have transpired at Suburban Propane Partners.
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