Star Group (NYSE:SGU) Announces Earnings Results

Star Group (NYSE:SGU) announced its earnings results on Wednesday. The pipeline company reported ($0.84) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $358.07 million for the quarter. Star Group had a net margin of 5.31% and a return on equity of 28.64%.

Star Group Stock Performance

SGU traded up $0.07 during trading on Wednesday, hitting $12.86. The stock had a trading volume of 40,082 shares, compared to its average volume of 25,156. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.81 and a current ratio of 0.99. The firm has a market capitalization of $422.08 million, a P/E ratio of 5.76 and a beta of 0.33. Star Group has a twelve month low of $11.37 and a twelve month high of $13.53. The company’s 50-day moving average price is $12.78 and its 200 day moving average price is $12.75.

Star Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 27th will be given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Monday, July 27th. Star Group’s dividend payout ratio (DPR) is presently 35.43%.

Hedge Funds Weigh In On Star Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atom Investors LP boosted its position in Star Group by 11.4% during the fourth quarter. Atom Investors LP now owns 20,586 shares of the pipeline company’s stock worth $244,000 after acquiring an additional 2,110 shares during the last quarter. Royal Bank of Canada lifted its position in Star Group by 5,446.2% during the fourth quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company’s stock valued at $25,000 after buying an additional 2,124 shares in the last quarter. LPL Financial LLC raised its position in Star Group by 14.6% in the fourth quarter. LPL Financial LLC now owns 17,169 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 2,188 shares during the period. UBS Group AG grew its position in Star Group by 6.8% in the third quarter. UBS Group AG now owns 52,025 shares of the pipeline company’s stock valued at $615,000 after acquiring an additional 3,333 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Star Group by 181.5% during the second quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company’s stock valued at $61,000 after acquiring an additional 3,352 shares in the last quarter. Institutional investors and hedge funds own 40.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

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