Joel Isaacson & Co. LLC Makes New Investment in Star Group, L.P. (NYSE:SGU)

Joel Isaacson & Co. LLC bought a new position in shares of Star Group, L.P. (NYSE:SGU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 191,832 shares of the pipeline company's stock, valued at approximately $2,528,000. Joel Isaacson & Co. LLC owned approximately 0.55% of Star Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Star Group during the 4th quarter valued at about $27,000. LPL Financial LLC lifted its holdings in shares of Star Group by 7.7% in 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. State of Tennessee Department of Treasury purchased a new position in shares of Star Group during the fourth quarter valued at approximately $26,000. MGO One Seven LLC boosted its position in shares of Star Group by 7.9% during the fourth quarter. MGO One Seven LLC now owns 17,193 shares of the pipeline company's stock valued at $198,000 after buying an additional 1,255 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in Star Group during the fourth quarter worth $144,000. 40.36% of the stock is owned by institutional investors.

Star Group Stock Down 0.9%

NYSE:SGU traded down $0.11 during trading hours on Wednesday, hitting $11.73. 30,055 shares of the company traded hands, compared to its average volume of 29,193. The company has a quick ratio of 0.69, a current ratio of 0.86 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $12.10 and its 200-day simple moving average is $12.31. Star Group, L.P. has a one year low of $10.11 and a one year high of $13.75. The company has a market cap of $405.33 million, a PE ratio of 7.87 and a beta of 0.35.

Star Group (NYSE:SGU - Get Free Report) last posted its earnings results on Wednesday, May 7th. The pipeline company reported $2.01 EPS for the quarter. The firm had revenue of $743.05 million for the quarter. Star Group had a net margin of 4.03% and a return on equity of 23.57%.

Star Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Monday, April 28th were given a dividend of $0.185 per share. The ex-dividend date was Monday, April 28th. This is a positive change from Star Group's previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a dividend yield of 6.31%. Star Group's dividend payout ratio (DPR) is currently 49.66%.

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.