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

Shares of Star Group, L.P. (NYSE:SGU) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.72 and traded as high as $13.13. Star Group shares last traded at $13.03, with a volume of 43,260 shares trading hands.

Analysts Set New Price Targets

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

Star Group Price Performance

The company has a market capitalization of $427.77 million, a P/E ratio of 5.84 and a beta of 0.33. The company has a fifty day moving average price of $12.80 and a 200 day moving average price of $12.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.81.

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

Star Group Announces Dividend

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

Institutional Investors Weigh In On Star Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of 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 acquiring an additional 2,124 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Star Group by 181.5% in the 2nd quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company’s stock worth $61,000 after acquiring an additional 3,352 shares during the period. Kestra Advisory Services LLC bought a new stake in Star Group in the 4th quarter valued at about $80,000. Raymond James Financial Inc. bought a new stake in Star Group in the 2nd quarter valued at about $89,000. Finally, Bank of America Corp DE boosted its stake in Star Group by 91.7% during the 3rd quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company’s stock valued at $140,000 after purchasing an additional 5,667 shares during the period. 40.36% of the stock is currently 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.