Star Group (NYSE:SGU) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Star Group, L.P. (NYSE:SGU)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.72 and traded as high as $13.13. Star Group shares last traded at $13.03, with a volume of 43,260 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Star Group Stock Performance

The company has a market capitalization of $427.77 million, a PE ratio of 5.84 and a beta of 0.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.81 and a current ratio of 0.99. The company has a 50 day moving average price of $12.80 and a 200 day moving average price of $12.72.

Star Group (NYSE:SGU) last issued its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $2.66 earnings per share (EPS) for the quarter. The business had revenue of $766.72 million during the quarter. Star Group had a net margin of 5.31% and a return on equity of 28.64%.

Star Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 27th will be paid a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, July 27th. Star Group’s dividend payout ratio is 35.43%.

Hedge Funds Weigh In On Star Group

A number of hedge funds have recently bought and sold shares of SGU. Royal Bank of Canada increased its holdings in Star Group by 5,446.2% in the fourth quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company’s stock valued at $25,000 after buying an additional 2,124 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in 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 last quarter. Kestra Advisory Services LLC acquired a new position in shares of Star Group in the 4th quarter worth approximately $80,000. Raymond James Financial Inc. acquired a new position in shares of Star Group in the 2nd quarter worth approximately $89,000. Finally, Bank of America Corp DE increased its holdings in shares of Star Group by 91.7% in the 3rd quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company’s stock valued at $140,000 after acquiring an additional 5,667 shares during the last quarter. 40.36% of the stock is currently owned by institutional investors and hedge funds.

About Star Group

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.