Star Group, L.P. (NYSE:SGU) Sees Large Drop in Short Interest

Star Group, L.P. (NYSE:SGU - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 59,000 shares, a drop of 15.7% from the April 30th total of 70,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,500 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGU. Crews Bank & Trust purchased a new stake in shares of Star Group during the fourth quarter valued at about $25,000. State of Tennessee Department of Treasury purchased a new stake in shares of Star Group during the fourth quarter valued at about $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Star Group during the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of Star Group during the fourth quarter valued at about $122,000. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Star Group in the 4th quarter valued at approximately $144,000. 40.36% of the stock is currently owned by institutional investors.

Star Group Trading Down 0.1%

NYSE SGU traded down $0.01 on Friday, hitting $11.97. 16,433 shares of the stock were exchanged, compared to its average volume of 30,712. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 0.83. The stock has a fifty day moving average price of $12.50 and a two-hundred day moving average price of $12.37. The firm has a market capitalization of $413.69 million, a P/E ratio of 11.51 and a beta of 0.36. Star Group has a 52-week low of $10.11 and a 52-week high of $13.75.

Star Group (NYSE:SGU - Get Free Report) last issued its earnings results on Wednesday, May 7th. The pipeline company reported $2.01 earnings per share (EPS) for the quarter. The firm had revenue of $743.05 million during the quarter. Star Group had a net margin of 3.19% and a return on equity of 18.47%.

Star Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Monday, April 28th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 6.18%. This is a boost from Star Group's previous quarterly dividend of $0.17. The ex-dividend date was Monday, April 28th. Star Group's dividend payout ratio is presently 49.66%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Star Group from a "buy" rating to a "strong-buy" rating in a report on Friday, February 7th.

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.