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

Key Points

• Star Group shares moved above their 200-day moving average, trading as high as $13.11 versus a 200-day average of $12.67 and last changing hands at $13.02.
• Weiss Ratings upgraded the stock from “hold (c+)” to “buy (b-)”, and MarketBeat says the overall consensus rating is currently “Buy.”
• The company posted solid recent results, reporting $2.66 in quarterly EPS on revenue of $766.72 million, with a 5.31% net margin and 28.64% return on equity.

Star Group, L.P. (NYSE:SGU - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.67 and traded as high as $13.11. Star Group shares last traded at $13.02, with a volume of 8,154 shares.

Analyst Ratings Changes

Separately, Weiss Ratings raised Star Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Star Group Price Performance

The stock has a market capitalization of $427.45 million, a PE ratio of 5.84 and a beta of 0.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.81. The stock's fifty day moving average is $12.79 and its 200-day moving average is $12.67.

Star Group (NYSE:SGU - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $2.66 earnings per share for the quarter. Star Group had a net margin of 5.31% and a return on equity of 28.64%. The company had revenue of $766.72 million during the quarter.

Hedge Funds Weigh In On Star Group

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of Star Group by 5,446.2% in the fourth quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company's stock valued at $25,000 after buying an additional 2,124 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of 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 buying an additional 3,352 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Star Group during the 4th quarter valued at approximately $80,000. Raymond James Financial Inc. acquired a new stake in Star Group in the 2nd quarter valued at $89,000. Finally, Bank of America Corp DE grew its stake in Star Group by 91.7% in the 3rd quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company's stock valued at $140,000 after acquiring an additional 5,667 shares during the period. Hedge funds and other institutional investors own 40.36% of the company's stock.

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. It also sells gasoline and diesel fuel to approximately 26,600 customers.

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