Star Group, L.P. (NYSE:SGU) Announces Quarterly Dividend of $0.20

Key Points

• Star Group declared a quarterly dividend of $0.1975 per share, payable November 4 to shareholders of record as of October 26. The dividend implies $0.79 annually and a 6.1% yield.
• The company has increased its dividend for 13 consecutive years, although its average annual increase over the past three years has been modest at 0.1%.
• Star Group reported a quarterly loss of $0.84 per share on $358.07 million in revenue, while institutional investors and hedge funds own approximately 40.36% of the stock.

Star Group, L.P. (NYSE:SGU - Get Free Report) declared a quarterly dividend on Thursday, October 15th. Investors of record on Monday, October 26th will be paid a dividend of $0.1975 per share by the pipeline company on Wednesday, November 4th. This represents a $0.79 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Monday, October 26th.

Star Group has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 13 years.

Star Group Stock Performance

Star Group stock opened at $13.01 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.69 and a current ratio of 0.87. Star Group has a fifty-two week low of $11.39 and a fifty-two week high of $13.53. The stock has a fifty day moving average of $12.78 and a two-hundred day moving average of $12.75. The company has a market capitalization of $426.86 million, a price-to-earnings ratio of 6.96 and a beta of 0.31.

Star Group (NYSE:SGU - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The pipeline company reported ($0.84) EPS for the quarter. Star Group had a return on equity of 24.43% and a net margin of 4.57%. The firm had revenue of $358.07 million for the quarter.

Institutional Investors Weigh In On Star Group

A number of large investors have recently added to or reduced their stakes in SGU. Integrated Wealth Concepts LLC purchased a new stake in shares of Star Group during the second quarter worth about $40,000. NewEdge Advisors LLC purchased a new stake in Star Group during the 2nd quarter worth approximately $147,000. BlackRock Inc. raised its position in shares of Star Group by 400.0% in the 2nd quarter. BlackRock Inc. now owns 19,501 shares of the pipeline company's stock valued at $250,000 after purchasing an additional 15,601 shares in the last quarter. Greenwood Gearhart LLC acquired a new position in shares of Star Group in the 1st quarter valued at approximately $252,000. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Star Group during the 1st quarter valued at approximately $261,000. 40.36% of the stock is owned by institutional investors and hedge funds.

About Star Group

Star Group, L.P. NYSE: SGU is a distributor of home heating and energy products serving residential and commercial customers in the northeastern United States. The company primarily provides heating oil and propane, along with related fuels such as gasoline and diesel.

Through its operating businesses and local service brands, Star Group also offers heating, ventilation and air-conditioning services, including equipment installation, maintenance and repairs. Its services are designed to support customers' home comfort, fuel delivery and energy-management needs.

The company traces its history to the formation of Star Gas Partners in 1995 and has expanded through acquisitions and the development of its energy-delivery and home-services operations.

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