Star Group, L.P. (NYSE:SGU) Short Interest Up 29.2% in August

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 growth in short interest in August. As of August 15th, there was short interest totaling 49,500 shares, a growth of 29.2% from the July 31st total of 38,300 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 44,000 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 44,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.2% of the shares of the stock are sold short.

Insider Activity at Star Group

In related news, Director Scott Baxter bought 15,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average price of $11.79 per share, for a total transaction of $176,850.00. Following the acquisition, the director owned 15,000 shares in the company, valued at $176,850. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 20.36% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in Star Group by 181.5% during the 2nd quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 3,352 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Star Group in the second quarter valued at approximately $89,000. Cary Street Partners Financial LLC acquired a new stake in shares of Star Group in the fourth quarter valued at approximately $144,000. Fifth Third Bancorp acquired a new stake in shares of Star Group in the second quarter valued at approximately $191,000. Finally, Goldman Sachs Group Inc. purchased a new position in Star Group in the first quarter worth approximately $231,000. 40.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Star Group Trading Down 1.1%

Shares of SGU stock traded down $0.13 on Friday, reaching $11.55. 36,279 shares of the company's stock were exchanged, compared to its average volume of 37,640. Star Group has a 52 week low of $10.84 and a 52 week high of $13.75. 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 stock has a market capitalization of $388.20 million, a PE ratio of 8.75 and a beta of 0.32. The company's fifty day simple moving average is $11.71 and its 200 day simple moving average is $12.22.

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

Star Group Announces Dividend

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