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

Star Group, L.P. (NYSE:SGU) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.67 and traded as high as $13.11. Star Group shares last traded at $13.02, with a volume of 8,154 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Star Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Star Group presently has an average rating of “Buy”.

Star Group Stock Down 0.4%

The firm has a market cap of $427.45 million, a price-to-earnings ratio of 5.84 and a beta of 0.33. The business has a fifty day simple moving average of $12.79 and a 200 day simple moving average of $12.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.81.

Star Group (NYSE:SGU) last issued its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $2.66 earnings per share (EPS) for the quarter. Star Group had a return on equity of 28.64% and a net margin of 5.31%.The firm had revenue of $766.72 million for the quarter.

Institutional Investors Weigh In On Star Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Star Group by 5,446.2% during the fourth quarter. Royal Bank of Canada now owns 2,163 shares of the pipeline company’s stock worth $25,000 after buying an additional 2,124 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Star Group by 181.5% in the second quarter. Osaic Holdings Inc. now owns 5,199 shares of the pipeline company’s stock valued at $61,000 after buying an additional 3,352 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Star Group in the fourth quarter worth about $80,000. Raymond James Financial Inc. purchased a new position in shares of Star Group in the second quarter worth about $89,000. Finally, Bank of America Corp DE lifted its stake in shares of Star Group by 91.7% in the third quarter. Bank of America Corp DE now owns 11,844 shares of the pipeline company’s stock worth $140,000 after buying an additional 5,667 shares in the last quarter. 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. It also sells gasoline and diesel fuel to approximately 26,600 customers.