Star Group (NYSE:SGU) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Star Group, L.P. (NYSE:SGU)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.99 and traded as high as $13.25. Star Group shares last traded at $13.00, with a volume of 24,788 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Star Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Weiss Ratings raised Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Star Group Stock Down 0.4%

The company has a 50-day moving average of $12.43 and a 200-day moving average of $11.99. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $427.44 million, a price-to-earnings ratio of 8.23 and a beta of 0.35.

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

Star Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, January 26th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, January 26th. This represents a $0.74 dividend on an annualized basis and a yield of 5.7%. Star Group’s dividend payout ratio is presently 46.84%.

Institutional Investors Weigh In On Star Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of Star Group by 5,446.2% during 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 position 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 acquiring an additional 3,352 shares during the period. Kestra Advisory Services LLC purchased a new stake in Star Group during the 4th quarter valued at about $80,000. Raymond James Financial Inc. acquired a new position in shares of Star Group in the second quarter valued at about $89,000. Finally, Bank of America Corp DE raised its stake in shares of Star Group by 91.7% in the third quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company’s stock worth $140,000 after purchasing 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.