Star Group, L.P. (NYSE:SGU) Declares Quarterly Dividend of $0.17

Star Group, L.P. (NYSE:SGU) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Monday, April 29th will be paid a dividend of 0.1725 per share by the pipeline company on Wednesday, May 8th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, April 26th. This is an increase from Star Group’s previous quarterly dividend of $0.16.

Star Group has increased its dividend by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 11 consecutive years.

Star Group Stock Up 1.7 %

Shares of Star Group stock traded up $0.17 during trading on Friday, reaching $10.30. The company’s stock had a trading volume of 58,369 shares, compared to its average volume of 34,984. Star Group has a 1-year low of $9.90 and a 1-year high of $15.22. The company has a 50-day simple moving average of $10.67 and a two-hundred day simple moving average of $11.52. The company has a quick ratio of 0.56, a current ratio of 0.76 and a debt-to-equity ratio of 0.46. The company has a market cap of $366.37 million, a price-to-earnings ratio of 19.92 and a beta of 0.48.

Star Group (NYSE:SGU) last issued its quarterly earnings results on Wednesday, February 7th. The pipeline company reported $0.32 earnings per share for the quarter. The business had revenue of $528.10 million for the quarter. Star Group had a return on equity of 11.07% and a net margin of 1.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Star Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in Star Group during the 3rd quarter valued at about $45,000. Barclays PLC raised its holdings in Star Group by 1,582.6% during the second quarter. Barclays PLC now owns 5,805 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 5,460 shares in the last quarter. UBS Group AG lifted its holdings in shares of Star Group by 50.7% in the 3rd quarter. UBS Group AG now owns 6,584 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 2,216 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Star Group during the fourth quarter worth approximately $112,000. Finally, Royal Bank of Canada acquired a new stake in shares of Star Group during the first quarter worth about $115,000. 40.36% of the stock is currently owned by institutional investors and hedge funds.

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.