Star Group (NYSE:SGU) Issues Quarterly Earnings Results

Star Group (NYSE:SGU) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, FiscalAI reports. Star Group had a net margin of 4.12% and a return on equity of 22.68%. The company had revenue of $539.26 million during the quarter.

Star Group Stock Performance

NYSE SGU opened at $13.17 on Thursday. The company has a fifty day moving average of $12.15 and a two-hundred day moving average of $11.88. The company has a market capitalization of $434.31 million, a PE ratio of 8.90 and a beta of 0.35. Star Group has a 1 year low of $11.31 and a 1 year high of $13.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.59 and a quick ratio of 0.46.

Star Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, January 26th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, January 26th. Star Group’s dividend payout ratio is currently 50.00%.

Institutional Trading of Star Group

Several institutional investors and hedge funds have recently made changes to their positions in SGU. Osaic Holdings Inc. increased its position in Star Group by 181.5% during the second 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. Raymond James Financial Inc. purchased a new position in shares of Star Group during the second quarter worth approximately $89,000. Bank of America Corp DE grew its position in shares of Star Group by 91.7% during the third quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company’s stock worth $140,000 after acquiring an additional 5,667 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Star Group in the 3rd quarter valued at $150,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Star Group in the 1st quarter valued at $231,000. 40.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SGU shares. Wall Street Zen upgraded shares of Star Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Weiss Ratings raised Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.