Acadian Asset Management LLC Makes New Investment in Star Group, L.P. (NYSE:SGU)

Acadian Asset Management LLC acquired a new position in Star Group, L.P. (NYSE:SGU) in the 2nd quarter, HoldingsChannel reports. The firm acquired 22,024 shares of the pipeline company’s stock, valued at approximately $232,000.

Separately, Blackstone Inc. lifted its stake in Star Group by 36.5% during the 1st quarter. Blackstone Inc. now owns 116,684 shares of the pipeline company’s stock valued at $1,169,000 after acquiring an additional 31,200 shares in the last quarter. 40.36% of the stock is currently owned by institutional investors and hedge funds.

Star Group Stock Performance

NYSE SGU opened at $11.85 on Friday. The company has a fifty day moving average price of $11.38 and a 200-day moving average price of $10.96. The firm has a market cap of $410.72 million, a price-to-earnings ratio of 17.95 and a beta of 0.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.74 and a quick ratio of 0.61. Star Group, L.P. has a 1 year low of $9.64 and a 1 year high of $14.76.

Star Group (NYSE:SGU) last issued its quarterly earnings data on Wednesday, July 31st. The pipeline company reported ($0.31) earnings per share (EPS) for the quarter. Star Group had a return on equity of 17.25% and a net margin of 2.82%. The firm had revenue of $331.64 million during the quarter.

Star Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 29th were issued a dividend of $0.1725 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.69 dividend on an annualized basis and a yield of 5.82%. Star Group’s dividend payout ratio (DPR) is currently 104.55%.

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.