Star Group (NYSE:SGU) Shares Cross Above 200-Day Moving Average of $10.97

Star Group, L.P. (NYSE:SGU) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.97 and traded as high as $11.19. Star Group shares last traded at $11.07, with a volume of 35,250 shares trading hands.

Star Group Price Performance

The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $10.79 and its 200 day moving average is $10.97. The firm has a market capitalization of $390.00 million, a price-to-earnings ratio of 16.77 and a beta of 0.42.

Star Group (NYSE:SGU) last released its quarterly earnings results on Wednesday, May 1st. The pipeline company reported $1.56 EPS for the quarter. The business had revenue of $666.03 million for the quarter. Star Group had a net margin of 2.15% and a return on equity of 13.15%.

Star Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th were paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 6.23%. This is an increase from Star Group’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, April 26th. Star Group’s dividend payout ratio is presently 104.55%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Star Group stock. Blackstone Inc. boosted its holdings in Star Group, L.P. (NYSE:SGU) by 36.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,684 shares of the pipeline company’s stock after buying an additional 31,200 shares during the quarter. Blackstone Inc. owned approximately 0.33% of Star Group worth $1,169,000 at the end of the most recent reporting period. 40.36% of the stock is currently owned by institutional investors and hedge funds.

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.