Maridea Wealth Management LLC Takes $550,000 Position in Star Group, L.P. $SGU

Maridea Wealth Management LLC purchased a new position in Star Group, L.P. (NYSE:SGU) in the second quarter, Holdings Channel.com reports. The firm purchased 42,815 shares of the pipeline company’s stock, valued at approximately $550,000.

Other hedge funds have also recently made changes to their positions in the company. Atom Investors LP lifted 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 valued at $244,000 after purchasing an additional 2,110 shares during the period. Royal Bank of Canada grew its position in Star Group by 5,446.2% in the 4th quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 2,124 shares during the period. LPL Financial LLC raised its stake in Star Group by 14.6% during the 4th quarter. LPL Financial LLC now owns 17,169 shares of the pipeline company’s stock valued at $203,000 after buying an additional 2,188 shares during the last quarter. UBS Group AG raised its stake in Star Group by 6.8% during the 3rd quarter. UBS Group AG now owns 52,025 shares of the pipeline company’s stock valued at $615,000 after buying an additional 3,333 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Star Group by 181.5% during the 2nd quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company’s stock valued at $61,000 after buying an additional 3,352 shares during the period. 40.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SGU shares. Weiss Ratings downgraded Star Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday. Wall Street Zen cut Star Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Star Group Price Performance

NYSE SGU opened at $12.66 on Friday. The business’s fifty day moving average is $12.78 and its 200 day moving average is $12.76. The company has a market capitalization of $415.79 million, a PE ratio of 6.77 and a beta of 0.33. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.69 and a current ratio of 0.87. Star Group, L.P. has a fifty-two week low of $11.37 and a fifty-two week high of $13.53.

Star Group (NYSE:SGU) last released its earnings results on Wednesday, August 5th. The pipeline company reported ($0.84) earnings per share (EPS) for the quarter. The firm had revenue of $358.07 million during the quarter. Star Group had a return on equity of 24.43% and a net margin of 4.57%.

Star Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 27th were paid a $0.1975 dividend. The ex-dividend date of this dividend was Monday, July 27th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.2%. Star Group’s dividend payout ratio is 42.25%.

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.