Scott Baxter Buys 15,000 Shares of Star Group, L.P. (NYSE:SGU) Stock

Key Points

• Director Scott Baxter purchased $176,850 worth of Star Group shares at an average price of $11.79 each, increasing his ownership to 15,000 shares.
• Star Group announced a quarterly dividend of $0.185 per share, representing an annualized yield of 6.3% with a payout ratio of 56.06%.
• Analysts have downgraded Star Group from a "strong-buy" to a "hold" rating, indicating a cautious outlook for the stock.

Star Group, L.P. (NYSE:SGU - Get Free Report) Director Scott Baxter purchased 15,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $11.79 per share, for a total transaction of $176,850.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $176,850. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Star Group Stock Down 0.7%

Shares of SGU traded down $0.09 during mid-day trading on Monday, hitting $11.48. The company's stock had a trading volume of 53,138 shares, compared to its average volume of 64,663. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.51. The company's 50-day moving average is $11.73 and its 200-day moving average is $12.36. Star Group, L.P. has a 52-week low of $10.84 and a 52-week high of $13.75. The firm has a market capitalization of $385.67 million, a price-to-earnings ratio of 8.69 and a beta of 0.32.

Star Group (NYSE:SGU - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported ($0.48) EPS for the quarter. The business had revenue of $305.62 million during the quarter. Star Group had a return on equity of 21.24% and a net margin of 3.77%.

Star Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 28th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Monday, July 28th. Star Group's dividend payout ratio is 56.06%.

Institutional Investors Weigh In On Star Group

Institutional investors have recently added to or reduced their stakes in the stock. State of Tennessee Department of Treasury bought a new position in Star Group in the fourth quarter worth about $26,000. Raymond James Financial Inc. purchased a new position in shares of Star Group in the 2nd quarter worth approximately $89,000. Cary Street Partners Financial LLC purchased a new position in shares of Star Group in the 4th quarter worth approximately $144,000. Fifth Third Bancorp bought a new position in shares of Star Group during the 2nd quarter worth approximately $191,000. Finally, MGO One Seven LLC lifted its position in 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 acquiring an additional 1,255 shares during the last quarter. Institutional investors own 40.36% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Star Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th.

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.