Star Group (NYSE:SGU) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Star Group, L.P. (NYSE:SGU)’s stock price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $12.72 and traded as high as $12.85. Star Group shares last traded at $12.7790, with a volume of 7,151 shares.

Wall Street Analyst Weigh In

Several research firms have issued reports on SGU. Wall Street Zen lowered 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 report on Wednesday, August 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Star Group currently has an average rating of “Hold”.

Star Group Stock Performance

The stock has a market cap of $419.28 million, a price-to-earnings ratio of 6.83 and a beta of 0.34. 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 50 day simple moving average of $12.73 and a 200 day simple moving average of $12.72.

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

Star Group Announces Dividend

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

Hedge Funds Weigh In On Star Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGU. Maridea Wealth Management LLC bought a new stake in shares of Star Group in the second quarter worth $550,000. Greenwood Gearhart LLC acquired a new stake in Star Group in the first quarter valued at $252,000. Renaissance Technologies LLC raised its position in Star Group by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 910,108 shares of the pipeline company’s stock worth $11,176,000 after purchasing an additional 10,281 shares during the last quarter. BlackRock Inc. raised its position in Star Group by 400.0% during the 2nd quarter. BlackRock Inc. now owns 19,501 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 15,601 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Star Group during the 2nd quarter worth about $40,000. 40.36% of the stock is currently owned by institutional investors and hedge funds.

About Star Group

Star Group, L.P. (NYSE: SGU) is a distributor of home heating products and provider of energy-related services in the northeastern and Mid-Atlantic United States. The company primarily serves residential and commercial customers, with operations focused on markets where heating oil and propane are widely used.

Its products include heating oil, propane, gasoline, diesel fuel, natural gas and electricity. Star Group also provides heating, ventilation and air-conditioning services, including equipment installation, maintenance and repair, as well as related plumbing and home-comfort services through its operating subsidiaries and regional brands.

The company’s business is supported by recurring fuel deliveries and service relationships with customers across states in New England, New York, New Jersey, Pennsylvania and surrounding areas.