Star Group (NYSE:SGU) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Star Group, L.P. (NYSE:SGU) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.73 and traded as high as $12.95. Star Group shares last traded at $12.93, with a volume of 10,666 shares changing hands.

Wall Street Analysts Forecast Growth

SGU has been the subject of several analyst reports. Wall Street Zen lowered shares of Star Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings lowered Star Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Star Group Trading Up 1.0%

The firm’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $12.73. The firm has a market cap of $423.41 million, a P/E ratio of 6.90 and a beta of 0.34. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.39.

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

Star Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 27th were given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Monday, July 27th. Star Group’s dividend payout ratio is currently 42.25%.

Institutional Investors Weigh In On Star Group

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Star Group by 5,446.2% in the fourth 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Star Group during the 2nd quarter valued at approximately $40,000. Osaic Holdings Inc. boosted its holdings in 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 buying an additional 3,352 shares during the period. Kestra Advisory Services LLC purchased a new position in Star Group in the 4th quarter valued at approximately $80,000. Finally, Raymond James Financial Inc. bought a new stake in Star Group during the 2nd quarter valued at $89,000. Hedge funds and other 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. It also sells gasoline and diesel fuel to approximately 26,600 customers.