Star Group (NYSE:SGU) Stock Passes Above 200 Day Moving Average – Here’s Why

Star Group, L.P. (NYSE:SGU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.49 and traded as high as $11.63. Star Group shares last traded at $11.43, with a volume of 9,924 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Star Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

Star Group Stock Performance

The company has a market cap of $395.23 million, a price-to-earnings ratio of 20.05 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.75 and a quick ratio of 0.64. The firm has a fifty day simple moving average of $11.85 and a 200 day simple moving average of $11.49.

Star Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 28th were issued a $0.1725 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.69 annualized dividend and a yield of 6.04%. Star Group’s dividend payout ratio (DPR) is presently 121.05%.

Institutional Investors Weigh In On Star Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. acquired a new stake in Star Group in the 2nd quarter worth $124,000. Acadian Asset Management LLC bought a new position in Star Group during the second quarter valued at about $232,000. GSA Capital Partners LLP raised its holdings in 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 acquiring an additional 10,799 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Star Group in the 3rd quarter worth approximately $566,000. Finally, Renaissance Technologies LLC grew its holdings in shares of 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 in the last quarter. 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.