Star Group (NYSE:SGU) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Star Group crossed above its 200-day moving average — the 200‑day MA is $12.10, the stock traded as high as $13.01 and last changed hands at $12.7750 on a volume of 36,971 shares, a commonly watched technical bullish signal.
• Analysts have upgraded the stock — Weiss Ratings raised SGU from hold to buy and Wall Street Zen moved it from buy to strong‑buy, leaving a current consensus rating of "Buy."
• Solid fundamentals and a high dividend yield — the company reported quarterly EPS of $0.89 on $539.3M revenue, has a market cap of $420.0M and P/E of 8.09, and pays a quarterly dividend of $0.185 (annualized $0.74) for a ~5.8% yield with a payout ratio of 46.8%.

Star Group, L.P. (NYSE:SGU - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.10 and traded as high as $13.01. Star Group shares last traded at $12.7750, with a volume of 36,971 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SGU shares. Weiss Ratings raised Star Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, January 13th. Wall Street Zen upgraded shares of Star Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy".

Star Group Trading Down 1.4%

The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $12.68 and a 200-day moving average price of $12.10. The company has a market capitalization of $420.03 million, a price-to-earnings ratio of 8.09 and a beta of 0.35.

Star Group (NYSE:SGU - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The pipeline company reported $0.89 earnings per share 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 during the quarter.

Star Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, January 26th were issued a dividend of $0.185 per share. The ex-dividend date was Monday, January 26th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 5.8%. Star Group's payout ratio is 46.84%.

Institutional Investors Weigh In On Star Group

Several hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its position in Star Group by 5,446.2% during the fourth quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company's stock worth $25,000 after acquiring an additional 2,124 shares during the period. Osaic Holdings Inc. boosted its holdings in Star Group by 181.5% in 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 period. Kestra Advisory Services LLC bought a new stake in Star Group in the 4th quarter valued at $80,000. Raymond James Financial Inc. acquired a new stake in Star Group in the 2nd quarter worth $89,000. Finally, Bank of America Corp DE grew its position 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 worth $140,000 after purchasing an additional 5,667 shares during the last quarter. 40.36% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.