Star Group (NYSE:SGU) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Star Group's share price passed above its 200‑day moving average during Monday trading, with a 200‑day MA of $12.32, an intraday high of $12.73 and last trade at $12.3890 on volume of 46,268 shares.
• The company raised its quarterly dividend to $0.1975 (annualized $0.79), representing a dividend yield of 6.4% and a payout ratio of 50%, with an ex‑dividend/record date of April 27 and payment on May 6.
• Star Group reported quarterly EPS of $0.89 on $539.3 million in revenue, and trades at a P/E of 7.84 with a market cap around $407 million; institutional investors own roughly 40.36% of the stock.

Star Group, L.P. (NYSE:SGU - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.32 and traded as high as $12.73. Star Group shares last traded at $12.3890, with a volume of 46,268 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SGU shares. Weiss Ratings lowered Star Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, April 21st. Wall Street Zen raised Star Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Star Group has an average rating of "Buy".

Star Group Stock Down 0.6%

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.74 and a quick ratio of 0.58. The firm has a market cap of $407.35 million, a price-to-earnings ratio of 7.84 and a beta of 0.36. The firm has a 50 day moving average price of $12.66 and a 200-day moving average price of $12.32.

Star Group (NYSE:SGU - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The pipeline company reported $0.89 earnings per share (EPS) for the quarter. Star Group had a return on equity of 23.03% and a net margin of 4.16%.The business had revenue of $539.26 million for the quarter.

Star Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 27th will be paid a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 6.4%. This is a boost from Star Group's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, April 27th. Star Group's payout ratio is currently 50.00%.

Hedge Funds Weigh In On Star Group

Several large investors have recently made changes to their positions in SGU. Lubar & Co. Inc acquired a new position in shares of Star Group during the fourth quarter valued at $15,344,000. Arrowstreet Capital Limited Partnership increased its holdings in Star Group by 91.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 104,083 shares of the pipeline company's stock valued at $1,231,000 after purchasing an additional 49,640 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in Star Group in the first quarter valued at about $231,000. Kingsview Wealth Management LLC bought a new stake in Star Group in the third quarter valued at about $150,000. Finally, Cove Street Capital LLC increased its holdings in Star Group by 46.3% in the third quarter. Cove Street Capital LLC now owns 25,600 shares of the pipeline company's stock valued at $303,000 after purchasing an additional 8,100 shares during the last quarter. 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. It also sells gasoline and diesel fuel to approximately 26,600 customers.

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