Short Interest in Star Group, L.P. (NYSE:SGU) Increases By 26.5%

Star Group, L.P. (NYSE:SGU - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 68,800 shares, a growth of 26.5% from the March 15th total of 54,400 shares. Based on an average trading volume of 34,300 shares, the short-interest ratio is currently 2.0 days. Approximately 0.2% of the shares of the stock are sold short.

Star Group Price Performance

Shares of Star Group stock remained flat at $12.60 during trading on Friday. The stock had a trading volume of 22,204 shares, compared to its average volume of 39,571. The firm's fifty day simple moving average is $13.01 and its two-hundred day simple moving average is $12.24. Star Group has a twelve month low of $9.64 and a twelve month high of $13.75. The stock has a market capitalization of $435.54 million, a price-to-earnings ratio of 12.12 and a beta of 0.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 0.83.

Star Group (NYSE:SGU - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The pipeline company reported $0.79 earnings per share for 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 will be paid on Wednesday, May 7th. Investors of record on Monday, April 28th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 5.87%. This is a boost from Star Group's previous quarterly dividend of $0.17. The ex-dividend date is Monday, April 28th. Star Group's dividend payout ratio (DPR) is presently 66.35%.

Analysts Set New Price Targets

Separately, StockNews.com raised Star Group from a "buy" rating to a "strong-buy" rating in a report on Friday, February 7th.

Institutional Inflows and Outflows

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

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.