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

Star Group, L.P. (NYSE:SGU) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.20 and traded as high as $11.22. Star Group shares last traded at $10.91, with a volume of 46,832 shares.

Star Group Trading Down 2.6 %

The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average price of $11.64 and a two-hundred day moving average price of $11.20. The firm has a market capitalization of $378.14 million, a price-to-earnings ratio of 10.70 and a beta of 0.43.

Star Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 28th will be paid a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, October 28th. Star Group’s dividend payout ratio (DPR) is presently 67.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Cove Street Capital LLC grew its position in Star Group by 15.6% in the second quarter. Cove Street Capital LLC now owns 18,500 shares of the pipeline company’s stock worth $197,000 after acquiring an additional 2,500 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Star Group by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 998,445 shares of the pipeline company’s stock valued at $10,623,000 after purchasing an additional 2,800 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Star Group during the 2nd quarter worth $124,000. Acadian Asset Management LLC acquired a new stake in shares of Star Group during the 2nd quarter worth about $232,000. Finally, Blackstone Inc. raised its holdings in Star Group by 36.5% in the 1st quarter. Blackstone Inc. now owns 116,684 shares of the pipeline company’s stock valued at $1,169,000 after buying an additional 31,200 shares during the period. Institutional investors and hedge funds own 40.36% of the company’s stock.

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.