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

Star Group, L.P. (NYSE:SGU)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.80 and traded as high as $12.19. Star Group shares last traded at $12.02, with a volume of 21,240 shares traded.

Analysts Set New Price Targets

SGU has been the topic of several research analyst reports. Wall Street Zen lowered Star Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Star Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Star Group Stock Down 0.7%

The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.51. The stock has a market cap of $403.99 million, a P/E ratio of 9.11 and a beta of 0.33. The firm has a 50-day simple moving average of $11.84 and a two-hundred day simple moving average of $11.80.

Star Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Monday, October 27th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Monday, October 27th. Star Group’s dividend payout ratio (DPR) is currently 56.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hartree Partners LP raised its position in shares of Star Group by 6.1% in the first quarter. Hartree Partners LP now owns 3,314,616 shares of the pipeline company’s stock valued at $43,687,000 after buying an additional 191,363 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Star Group during the first quarter worth approximately $231,000. Fifth Third Bancorp bought a new position in Star Group during the 2nd quarter worth $191,000. Arrowstreet Capital Limited Partnership raised its holdings in Star Group by 60.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,443 shares of the pipeline company’s stock valued at $637,000 after acquiring an additional 20,495 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Star Group during the 2nd quarter valued at $89,000. Institutional investors and hedge funds 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.