Star Group (NYSE:SGU) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Star Group (NYSE:SGU) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Star Group Stock Down 1.8 %

SGU stock opened at $11.79 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $11.86 and a two-hundred day moving average price of $11.41. The company has a market cap of $408.64 million, a price-to-earnings ratio of 20.68 and a beta of 0.46. Star Group has a twelve month low of $9.64 and a twelve month high of $14.76.

Star Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 28th were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.69 annualized dividend and a dividend yield of 5.85%. Star Group’s dividend payout ratio is currently 121.05%.

Institutional Trading of Star Group

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Star Group by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 998,445 shares of the pipeline company’s stock worth $10,623,000 after purchasing an additional 2,800 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Star Group in the 3rd quarter valued at about $566,000. GSA Capital Partners LLP lifted its stake in shares of Star Group by 89.4% in the 3rd quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock valued at $269,000 after purchasing an additional 10,799 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Star Group in the 2nd quarter valued at about $232,000. Finally, Cove Street Capital LLC lifted its stake in shares of Star Group by 15.6% in the 2nd quarter. Cove Street Capital LLC now owns 18,500 shares of the pipeline company’s stock valued at $197,000 after purchasing an additional 2,500 shares during the period. 40.36% of the stock is owned by institutional investors and hedge funds.

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.