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

Star Group, L.P. (NYSE:SGU) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.73 and traded as high as $12.90. Star Group shares last traded at $12.7550, with a volume of 16,073 shares trading hands.

Analyst Upgrades and Downgrades

SGU has been the topic of several research reports. Wall Street Zen lowered Star Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Star Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Star Group Stock Performance

The firm has a market capitalization of $417.36 million, a price-to-earnings ratio of 6.80 and a beta of 0.34. The firm has a 50 day moving average price of $12.76 and a 200-day moving average price of $12.73. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.87 and a quick ratio of 0.69.

Star Group (NYSE:SGU) last released its earnings results on Wednesday, August 5th. The pipeline company reported ($0.84) EPS for the quarter. The company had revenue of $358.07 million for the quarter. Star Group had a return on equity of 24.43% and a net margin of 4.57%.

Star Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 27th were issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, July 27th. Star Group’s payout ratio is 42.25%.

Institutional Investors Weigh In On Star Group

A number of hedge funds and other institutional investors have recently modified their holdings of SGU. Maridea Wealth Management LLC acquired a new position in shares of Star Group during the second quarter worth $550,000. Integrated Wealth Concepts LLC acquired a new stake in Star Group in the second quarter valued at $40,000. NewEdge Advisors LLC acquired a new stake in Star Group in the second quarter valued at $147,000. BlackRock Inc. lifted its holdings in Star Group by 400.0% during the 2nd quarter. BlackRock Inc. now owns 19,501 shares of the pipeline company’s stock worth $250,000 after buying an additional 15,601 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Star Group by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 910,108 shares of the pipeline company’s stock worth $11,176,000 after buying an additional 10,281 shares during the last quarter. 40.36% of the stock is currently owned by institutional investors and hedge funds.

About Star Group

Star Group, L.P. (NYSE: SGU) is a distributor of home heating products and provider of energy-related services in the northeastern and Mid-Atlantic United States. The company primarily serves residential and commercial customers, with operations focused on markets where heating oil and propane are widely used.

Its products include heating oil, propane, gasoline, diesel fuel, natural gas and electricity. Star Group also provides heating, ventilation and air-conditioning services, including equipment installation, maintenance and repair, as well as related plumbing and home-comfort services through its operating subsidiaries and regional brands.

The company’s business is supported by recurring fuel deliveries and service relationships with customers across states in New England, New York, New Jersey, Pennsylvania and surrounding areas.