Star Group, L.P. (NYSE:SGU) Stake Raised by GSA Capital Partners LLP

GSA Capital Partners LLP increased its holdings in Star Group, L.P. (NYSE:SGU) by 89.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,884 shares of the pipeline company’s stock after purchasing an additional 10,799 shares during the quarter. GSA Capital Partners LLP’s holdings in Star Group were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Blackstone Inc. raised its position in shares of Star Group by 36.5% during the 1st quarter. Blackstone Inc. now owns 116,684 shares of the pipeline company’s stock worth $1,169,000 after buying an additional 31,200 shares in the last quarter. Cove Street Capital LLC increased its stake in shares of Star Group by 15.6% during the second quarter. Cove Street Capital LLC now owns 18,500 shares of the pipeline company’s stock valued at $197,000 after acquiring an additional 2,500 shares during the period. Acadian Asset Management LLC bought a new stake in Star Group during the second quarter worth approximately $232,000. American Century Companies Inc. acquired a new stake in Star Group in the second quarter worth approximately $124,000. Finally, Renaissance Technologies LLC boosted its stake in Star Group by 0.3% during 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 in the last quarter. 40.36% of the stock is currently owned by institutional investors and hedge funds.

Star Group Price Performance

NYSE:SGU opened at $12.61 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $11.74 and its 200 day moving average price is $11.29. Star Group, L.P. has a 52-week low of $9.64 and a 52-week high of $14.76. The firm has a market cap of $437.06 million, a P/E ratio of 12.36 and a beta of 0.42.

Star Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 28th were issued a dividend of $0.1725 per share. The ex-dividend date was Monday, October 28th. This represents a $0.69 annualized dividend and a yield of 5.47%. Star Group’s payout ratio is presently 67.65%.

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.