Star Group (NYSE:SGU) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Star Group, L.P. (NYSE:SGU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.18 and traded as high as $12.65. Star Group shares last traded at $12.5050, with a volume of 14,244 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on SGU shares. Weiss Ratings upgraded shares of Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 13th. Wall Street Zen raised shares of Star Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Star Group presently has a consensus rating of “Buy”.

Star Group Trading Up 1.1%

The company has a market capitalization of $411.16 million, a price-to-earnings ratio of 7.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.58 and a current ratio of 0.74. The business’s 50-day simple moving average is $12.79 and its 200-day simple moving average is $12.18.

Star Group (NYSE:SGU) last posted its quarterly earnings results on Wednesday, February 4th. The pipeline company reported $0.89 earnings per share for the quarter. Star Group had a net margin of 4.16% and a return on equity of 23.03%. The business had revenue of $539.26 million during the quarter.

Star Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, January 26th were given a dividend of $0.185 per share. The ex-dividend date was Monday, January 26th. This represents a $0.74 annualized dividend and a dividend yield of 5.9%. Star Group’s payout ratio is presently 46.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SGU. Goldman Sachs Group Inc. acquired a new stake in shares of Star Group during the first quarter worth $231,000. Arrowstreet Capital Limited Partnership lifted its stake in Star Group by 60.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 54,443 shares of the pipeline company’s stock valued at $637,000 after buying an additional 20,495 shares during the period. Raymond James Financial Inc. bought a new position in Star Group during the second quarter worth about $89,000. Hyperion Capital Advisors LP bought a new position in Star Group during the second quarter worth about $344,000. Finally, Osaic Holdings Inc. grew its position in shares of Star Group by 181.5% during the 2nd quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company’s stock worth $61,000 after buying an additional 3,352 shares during the period. 40.36% of the stock is currently owned by institutional investors.

Star Group Company 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. It also sells gasoline and diesel fuel to approximately 26,600 customers.