Fifth Third Bancorp Purchases New Stake in Star Group, L.P. $SGU

Fifth Third Bancorp bought a new stake in Star Group, L.P. (NYSE:SGU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,296 shares of the pipeline company’s stock, valued at approximately $191,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in Star Group in the first quarter valued at about $231,000. Hartree Partners LP grew its position in Star Group by 6.1% in the first quarter. Hartree Partners LP now owns 3,314,616 shares of the pipeline company’s stock valued at $43,687,000 after acquiring an additional 191,363 shares during the last quarter. Finally, Joel Isaacson & Co. LLC bought a new position in Star Group in the first quarter valued at about $2,528,000. Institutional investors own 40.36% of the company’s stock.

Insider Transactions at Star Group

In other Star Group news, Director Scott Baxter purchased 15,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $11.79 per share, with a total value of $176,850.00. Following the completion of the purchase, the director owned 15,000 shares in the company, valued at $176,850. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.36% of the company’s stock.

Star Group Stock Performance

Shares of SGU stock opened at $11.88 on Wednesday. The business’s 50 day simple moving average is $11.68 and its 200 day simple moving average is $12.11. Star Group, L.P. has a one year low of $10.84 and a one year high of $13.75. The stock has a market capitalization of $399.29 million, a PE ratio of 9.00 and a beta of 0.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.70 and a quick ratio of 0.57.

Star Group (NYSE:SGU) last announced its earnings results on Wednesday, August 6th. The pipeline company reported ($0.48) EPS for the quarter. Star Group had a net margin of 3.77% and a return on equity of 21.24%. The company had revenue of $305.62 million during the quarter.

Star Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, July 28th were paid a $0.185 dividend. The ex-dividend date of this dividend was Monday, July 28th. This represents a $0.74 annualized dividend and a yield of 6.2%. Star Group’s payout ratio is 56.06%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Star Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th.

Star Group Profile

Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis.