Brown Advisory Inc. Cuts Stake in Star Group, L.P. (NYSE:SGU)

Brown Advisory Inc. decreased its stake in shares of Star Group, L.P. (NYSE:SGU - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 967,171 shares of the pipeline company's stock after selling 34,629 shares during the quarter. Brown Advisory Inc. owned about 2.80% of Star Group worth $11,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Star Group by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company's stock worth $7,309,000 after purchasing an additional 66,806 shares during the period. Jones Financial Companies Lllp bought a new position in Star Group during the 4th quarter worth about $27,000. State of Tennessee Department of Treasury bought a new position in Star Group in the fourth quarter worth approximately $26,000. MGO One Seven LLC raised its position in shares of Star Group by 7.9% in the 4th quarter. MGO One Seven LLC now owns 17,193 shares of the pipeline company's stock worth $198,000 after acquiring an additional 1,255 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Star Group by 7.7% during the fourth quarter. LPL Financial LLC now owns 17,932 shares of the pipeline company's stock valued at $207,000 after purchasing an additional 1,276 shares in the last quarter. 40.36% of the stock is currently owned by institutional investors.

Star Group Stock Performance

Shares of SGU opened at $12.41 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.66 and a debt-to-equity ratio of 0.63. The firm has a market cap of $428.98 million, a PE ratio of 11.93 and a beta of 0.39. Star Group, L.P. has a 12 month low of $9.64 and a 12 month high of $13.75. The stock has a fifty day moving average price of $12.91 and a 200-day moving average price of $12.28.

Star Group (NYSE:SGU - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The pipeline company reported $0.79 earnings per share for the quarter. Star Group had a return on equity of 18.47% and a net margin of 3.19%.

Star Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.185 per share. This is a positive change from Star Group's previous quarterly dividend of $0.17. The ex-dividend date is Monday, April 28th. This represents a $0.74 dividend on an annualized basis and a yield of 5.96%. Star Group's dividend payout ratio is presently 71.15%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Star Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 7th.

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.

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