Star Group, L.P. (NYSE:SGU) Short Interest Update

Key Points

• Star Group, L.P. experienced a significant rise in short interest, with a 29.2% increase in shares shorted, totaling 49,500 shares as of August 15th.
• Analyst ratings for Star Group were adjusted, with Wall Street Zen downgrading the stock from a "strong-buy" to a "hold" on August 9th.
• The company announced a quarterly dividend of $0.185, indicating a 6.4% yield and a payout ratio of 56.06%.

Star Group, L.P. (NYSE:SGU - Get Free Report) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 49,500 shares, an increase of 29.2% from the July 31st total of 38,300 shares. Based on an average daily trading volume, of 44,000 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.2% of the company's stock are short sold. Currently, 0.2% of the company's stock are short sold. Based on an average daily trading volume, of 44,000 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Scott Baxter purchased 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $11.79 per share, with a total value of $176,850.00. Following the purchase, the director owned 15,000 shares in the company, valued at $176,850. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 20.36% of the company's stock.

Hedge Funds Weigh In On Star Group

Several institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its holdings in shares of Star Group by 181.5% in the second quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 3,352 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Star Group in the second quarter valued at approximately $89,000. Cary Street Partners Financial LLC bought a new position in shares of Star Group in the fourth quarter valued at approximately $144,000. Fifth Third Bancorp bought a new position in shares of Star Group in the second quarter valued at approximately $191,000. Finally, Goldman Sachs Group Inc. bought a new position in Star Group during the first quarter valued at $231,000. 40.36% of the stock is owned by institutional investors.

Star Group Stock Down 1.3%

SGU traded down $0.15 during midday trading on Tuesday, reaching $11.58. 35,533 shares of the company were exchanged, compared to its average volume of 37,755. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.57 and a current ratio of 0.70. The company's fifty day moving average price is $11.72 and its 200 day moving average price is $12.26. The company has a market cap of $389.16 million, a price-to-earnings ratio of 8.77 and a beta of 0.32. Star Group has a one year low of $10.84 and a one year high of $13.75.

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

Star Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 28th were issued a $0.185 dividend. The ex-dividend date of this dividend was Monday, July 28th. This represents a $0.74 annualized dividend and a dividend yield of 6.4%. Star Group's dividend payout ratio is currently 56.06%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.