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

Shares of Star Group, L.P. (NYSE:SGU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.18 and traded as high as $12.65. Star Group shares last traded at $12.5050, with a volume of 14,244 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on SGU. Weiss Ratings raised Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 13th. Wall Street Zen upgraded Star Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Star Group currently has an average rating of “Buy”.

Star Group Trading Up 1.6%

The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $12.79 and its 200 day moving average price is $12.19. The company has a market capitalization of $410.11 million, a P/E ratio of 7.89 and a beta of 0.35.

Star Group (NYSE:SGU) last announced its quarterly earnings results on Wednesday, February 4th. The pipeline company reported $0.89 earnings per share for the quarter. The business had revenue of $539.26 million for the quarter. Star Group had a net margin of 4.16% and a return on equity of 23.03%.

Star Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, January 26th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Monday, January 26th. Star Group’s dividend payout ratio (DPR) is currently 46.84%.

Institutional Investors Weigh In On Star Group

Several institutional investors have recently bought and sold shares of SGU. Atom Investors LP raised its position in Star Group by 11.4% in the 4th quarter. Atom Investors LP now owns 20,586 shares of the pipeline company’s stock valued at $244,000 after buying an additional 2,110 shares during the last quarter. Royal Bank of Canada boosted its holdings in Star Group by 5,446.2% during the 4th quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 2,124 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Star Group in the 4th quarter worth $80,000. LPL Financial LLC grew its stake in shares of Star Group by 14.6% in the 4th quarter. LPL Financial LLC now owns 17,169 shares of the pipeline company’s stock worth $203,000 after acquiring an additional 2,188 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Star Group by 77.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 31,891 shares of the pipeline company’s stock valued at $378,000 after purchasing an additional 13,887 shares during the last quarter. Institutional investors own 40.36% of the company’s stock.

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. It also sells gasoline and diesel fuel to approximately 26,600 customers.