Star Group (NYSE:SGU) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Star Group, L.P. (NYSE:SGU) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.01 and traded as high as $12.45. Star Group shares last traded at $12.10, with a volume of 31,170 shares changing hands.

Star Group Stock Performance

The stock has a 50-day moving average price of $11.50 and a 200 day moving average price of $11.01. 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 firm has a market capitalization of $402.75 million, a price-to-earnings ratio of 17.35 and a beta of 0.42.

Star Group (NYSE:SGU) last posted its quarterly earnings results on Wednesday, July 31st. The pipeline company reported ($0.31) 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 for the quarter.

Star Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Monday, July 29th were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 5.94%. The ex-dividend date was Monday, July 29th. Star Group’s dividend payout ratio (DPR) is presently 104.55%.

Institutional Trading of Star Group

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

Star Group Company Profile

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.