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

Star Group, L.P. (NYSE:SGU) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $12.74 and traded as high as $13.01. Star Group shares last traded at $12.9750, with a volume of 13,980 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Star Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Star Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Star Group Stock Down 0.1%

The company’s 50 day moving average is $12.76 and its 200 day moving average is $12.74. The company has a market cap of $425.71 million, a PE ratio of 6.94 and a beta of 0.31. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.39.

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

Star Group Dividend Announcement

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

Hedge Funds Weigh In On Star Group

Several large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in Star Group during the 2nd quarter valued at approximately $40,000. NewEdge Advisors LLC purchased a new position in Star Group in the 2nd quarter worth approximately $147,000. BlackRock Inc. boosted its stake in Star Group by 400.0% during the 2nd quarter. BlackRock Inc. now owns 19,501 shares of the pipeline company’s stock valued at $250,000 after acquiring an additional 15,601 shares during the last quarter. Maridea Wealth Management LLC acquired a new stake in shares of Star Group during the second quarter worth $550,000. Finally, Renaissance Technologies LLC grew its position in Star Group by 1.1% in the 1st quarter. Renaissance Technologies LLC now owns 910,108 shares of the pipeline company’s stock worth $11,176,000 after purchasing an additional 10,281 shares during the last quarter. Hedge funds and other institutional investors own 40.36% of the company’s stock.

Star Group Company Profile

Star Group, L.P. (NYSE: SGU) is a distributor of home heating and energy products serving residential and commercial customers in the northeastern United States. The company primarily provides heating oil and propane, along with related fuels such as gasoline and diesel.

Through its operating businesses and local service brands, Star Group also offers heating, ventilation and air-conditioning services, including equipment installation, maintenance and repairs. Its services are designed to support customers’ home comfort, fuel delivery and energy-management needs.

The company traces its history to the formation of Star Gas Partners in 1995 and has expanded through acquisitions and the development of its energy-delivery and home-services operations.