Star Group (NYSE:SGU) Releases Earnings Results

Star Group (NYSE:SGU) issued its quarterly earnings results on Wednesday. The pipeline company reported ($0.84) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $358.07 million for the quarter. Star Group had a return on equity of 28.64% and a net margin of 5.31%.

Star Group Stock Down 1.0%

Shares of NYSE SGU traded down $0.13 during midday trading on Thursday, reaching $12.72. 7,183 shares of the company’s stock traded hands, compared to its average volume of 25,062. The company has a market cap of $417.60 million, a price-to-earnings ratio of 5.70 and a beta of 0.33. The stock’s 50 day simple moving average is $12.78 and its 200-day simple moving average is $12.75. The company has a quick ratio of 0.81, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. Star Group has a one year low of $11.37 and a one year high of $13.53.

Star Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 27th were paid a dividend of $0.1975 per share. The ex-dividend date 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 currently 35.43%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Star Group presently has an average rating of “Buy”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lubar & Co. Inc purchased a new position in Star Group during the 4th quarter worth $15,344,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Star Group by 91.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 104,083 shares of the pipeline company’s stock valued at $1,231,000 after acquiring an additional 49,640 shares in the last quarter. Maridea Wealth Management LLC acquired a new position in shares of Star Group during the second quarter valued at about $550,000. AlphaCentric Advisors LLC purchased a new position in shares of Star Group in the 1st quarter valued at approximately $261,000. Finally, Greenwood Gearhart LLC acquired a new stake in Star Group in the 1st quarter worth approximately $252,000. 40.36% of the stock is currently owned by hedge funds and other institutional investors.

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.