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

Star Group, L.P. (NYSE:SGU)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.53 and traded as high as $11.64. Star Group shares last traded at $11.49, with a volume of 14,903 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Star Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th.

Star Group Stock Performance

The firm has a market capitalization of $397.30 million, a P/E ratio of 20.16 and a beta of 0.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.75 and a quick ratio of 0.64. The firm has a 50-day moving average price of $11.81 and a two-hundred day moving average price of $11.53.

Star Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors 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 dividend on an annualized basis and a yield of 6.01%. Star Group’s payout ratio is 121.05%.

Hedge Funds Weigh In On Star Group

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. purchased a new stake in shares of Star Group in the second quarter valued at approximately $124,000. Acadian Asset Management LLC purchased a new stake in shares of Star Group in the 2nd quarter worth $232,000. GSA Capital Partners LLP grew its position in shares of Star Group by 89.4% during the 3rd quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock worth $269,000 after buying an additional 10,799 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Star Group in the third quarter valued at about $566,000. Finally, JPMorgan Chase & Co. lifted its stake in Star Group by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company’s stock worth $7,309,000 after acquiring an additional 66,806 shares during the period. 40.36% of the stock is currently owned by institutional investors.

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.