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

Star Group, L.P. (NYSE:SGU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.73 and traded as high as $12.83. Star Group shares last traded at $12.83, with a volume of 8,729 shares traded.

Wall Street Analysts Forecast Growth

SGU has been the topic of several research analyst reports. Wall Street Zen cut shares of Star Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Star Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Star Group Stock Performance

The business has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $12.74. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $420.95 million, a P/E ratio of 6.86 and a beta of 0.34.

Star Group (NYSE:SGU) last announced its earnings results on Wednesday, August 5th. The pipeline company reported ($0.84) earnings per share (EPS) for the quarter. Star Group had a return on equity of 24.43% and a net margin of 4.57%.The firm had revenue of $358.07 million during the quarter.

Star Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 27th were issued a $0.1975 dividend. The ex-dividend date of this dividend was Monday, July 27th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.2%. Star Group’s dividend payout ratio (DPR) is presently 42.25%.

Institutional Trading of Star Group

Several large investors have recently added to or reduced their stakes in the business. Lubar & Co. Inc purchased a new position in shares of Star Group during the 4th quarter worth $15,344,000. Maridea Wealth Management LLC purchased a new stake in shares of Star Group in the 2nd quarter worth $550,000. Royal Bank of Canada increased its stake in shares of Star Group by 5,446.2% in the 4th quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 2,124 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Star Group in the 4th quarter worth $80,000. Finally, LPL Financial LLC raised its holdings in Star Group by 14.6% in the 4th quarter. LPL Financial LLC now owns 17,169 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 2,188 shares during the period. 40.36% of the stock is currently 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.