Lubar & Co. Inc Purchases Shares of 1,295,985 Star Group, L.P. $SGU

Key Points

• Lubar & Co. Inc bought 1,295,985 shares of Star Group in the fourth quarter, a stake worth about $15.3 million and equal to roughly 3.93% of the company. Star Group is now Lubar & Co.’s second-largest holding, representing 11.4% of its portfolio.
• Star Group shares were down 4.5% and recently traded at $12.84, leaving the stock near the low end of its 52-week range. The company has a market cap of about $422.2 million and a low beta of 0.36.
• The company recently reported quarterly EPS of $2.66 on revenue of $766.7 million and raised its quarterly dividend to $0.1975 per share. That increase implies an annualized dividend yield of about 6.2%.

Lubar & Co. Inc acquired a new stake in Star Group, L.P. (NYSE:SGU - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,295,985 shares of the pipeline company's stock, valued at approximately $15,344,000. Star Group accounts for approximately 11.4% of Lubar & Co. Inc's investment portfolio, making the stock its 2nd largest position. Lubar & Co. Inc owned approximately 3.93% of Star Group at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of Star Group by 181.5% during the second quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company's stock worth $61,000 after purchasing an additional 3,352 shares during the period. Raymond James Financial Inc. acquired a new position in Star Group in the 2nd quarter worth approximately $89,000. Bank of America Corp DE raised its position in Star Group by 91.7% during the 3rd quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company's stock worth $140,000 after buying an additional 5,667 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in Star Group during the 3rd quarter worth approximately $150,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Star Group during the 1st quarter valued at approximately $231,000. 40.36% of the stock is currently owned by hedge funds and other institutional investors.

Star Group Trading Down 4.5%

Star Group stock opened at $12.84 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.58 and a debt-to-equity ratio of 0.37. Star Group, L.P. has a 12 month low of $11.31 and a 12 month high of $13.53. The stock's 50 day simple moving average is $12.67 and its two-hundred day simple moving average is $12.35. The firm has a market cap of $422.24 million, a PE ratio of 5.76 and a beta of 0.36.

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

Star Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Monday, April 27th were given a dividend of $0.1975 per share. This is a boost from Star Group's previous quarterly dividend of $0.19. This represents a $0.79 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, April 27th. Star Group's dividend payout ratio (DPR) is 35.43%.

Wall Street Analyst Weigh In

Several 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 report on Saturday, January 31st. Weiss Ratings lowered shares of Star Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Star Group presently has a consensus rating of "Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.