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

Star Group, L.P. (NYSE:SGU) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.16 and traded as high as $12.01. Star Group shares last traded at $11.73, with a volume of 13,865 shares.

Star Group Stock Performance

The company has a market cap of $413.25 million, a P/E ratio of 17.77 and a beta of 0.42. The business’s 50 day simple moving average is $11.69 and its 200 day simple moving average is $11.16. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37.

Star Group (NYSE:SGU) last released its earnings results on Wednesday, July 31st. The pipeline company reported ($0.31) EPS for the quarter. Star Group had a return on equity of 17.25% and a net margin of 2.82%. The firm had revenue of $331.64 million for the quarter.

Star Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 28th will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend is Monday, October 28th. Star Group’s payout ratio is currently 104.55%.

Institutional Investors Weigh In On Star Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in Star Group by 0.3% in the second quarter. Renaissance Technologies LLC now owns 998,445 shares of the pipeline company’s stock worth $10,623,000 after purchasing an additional 2,800 shares during the last quarter. Blackstone Inc. increased its position in Star Group by 36.5% in the first quarter. Blackstone Inc. now owns 116,684 shares of the pipeline company’s stock worth $1,169,000 after purchasing an additional 31,200 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Star Group in the second quarter worth $232,000. Cove Street Capital LLC increased its position in Star Group by 15.6% in the second quarter. Cove Street Capital LLC now owns 18,500 shares of the pipeline company’s stock worth $197,000 after purchasing an additional 2,500 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in Star Group during the second quarter worth $124,000. Institutional investors own 40.36% of the company’s stock.

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.