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

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 $11.28 and traded as high as $12.31. Star Group shares last traded at $12.31, with a volume of 13,876 shares traded.

Star Group Stock Performance

The stock has a market capitalization of $426.66 million, a P/E ratio of 12.07 and a beta of 0.42. The stock has a 50 day moving average of $11.72 and a 200 day moving average of $11.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.74.

Star Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors 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 dividend on an annualized basis and a yield of 5.61%. Star Group’s payout ratio is currently 67.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. acquired a new position in Star Group during the 2nd quarter worth $124,000. Cove Street Capital LLC lifted its holdings in shares of Star Group by 15.6% in the second quarter. Cove Street Capital LLC now owns 18,500 shares of the pipeline company’s stock valued at $197,000 after buying an additional 2,500 shares during the period. Acadian Asset Management LLC bought a new position in Star Group during the second quarter valued at about $232,000. GSA Capital Partners LLP boosted its stake in Star Group by 89.4% during the third quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock valued at $269,000 after buying an additional 10,799 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Star Group during the third quarter valued at about $566,000. 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.