Star Group (NYSE:SGU) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Star Group, L.P. (NYSE:SGU) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.07 and traded as high as $13.26. Star Group shares last traded at $13.03, with a volume of 26,046 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com raised Star Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th.

Star Group Stock Up 1.6 %

The firm’s 50-day simple moving average is $12.71 and its 200-day simple moving average is $12.09. The company has a market capitalization of $460.78 million, a price-to-earnings ratio of 12.82 and a beta of 0.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 0.83.

Star Group (NYSE:SGU) last issued its quarterly earnings results on Wednesday, February 5th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter. Star Group had a return on equity of 18.47% and a net margin of 3.19%.

Star Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Monday, January 27th were given a $0.1725 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $0.69 annualized dividend and a yield of 5.18%. Star Group’s dividend payout ratio (DPR) is currently 66.35%.

Institutional Investors Weigh In On Star Group

Several institutional investors and hedge funds have recently bought and sold shares of SGU. JPMorgan Chase & Co. boosted its position in shares of Star Group by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company’s stock valued at $7,309,000 after acquiring an additional 66,806 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Star Group in the 3rd quarter valued at approximately $566,000. Cary Street Partners Financial LLC bought a new stake in shares of Star Group in the 4th quarter valued at approximately $144,000. Roxbury Financial LLC acquired a new position in shares of Star Group in the 4th quarter worth approximately $122,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Star Group during the 4th quarter worth approximately $27,000. 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.