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

Star Group, L.P. (NYSE:SGU)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.51 and traded as high as $12.83. Star Group shares last traded at $12.7950, with a volume of 12,458 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Star Group Stock Up 0.7%

The business’s fifty day moving average price is $12.70 and its 200 day moving average price is $12.51. The company has a market capitalization of $420.06 million, a P/E ratio of 5.74 and a beta of 0.34. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 0.37.

Star Group (NYSE:SGU) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $2.66 EPS for the quarter. The company had revenue of $766.72 million during the quarter. Star Group had a net margin of 5.31% and a return on equity of 28.64%.

Star Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Monday, April 27th were issued a dividend of $0.1975 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $0.79 annualized dividend and a yield of 6.2%. This is an increase from Star Group’s previous quarterly dividend of $0.19. Star Group’s payout ratio is 35.43%.

Hedge Funds Weigh In On Star Group

Several institutional investors have recently added to or reduced their stakes in SGU. Lubar & Co. Inc bought a new position in Star Group during the 4th quarter valued at about $15,344,000. Arrowstreet Capital Limited Partnership lifted its holdings in Star Group by 91.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 104,083 shares of the pipeline company’s stock valued at $1,231,000 after purchasing an additional 49,640 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in Star Group during the 1st quarter valued at about $261,000. Greenwood Gearhart LLC bought a new position in Star Group during the 1st quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. bought a new position in Star Group during the 1st quarter valued at about $231,000. 40.36% of the stock is owned by institutional investors.

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.