Star Group, L.P. (NYSE:SGU) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Star Group, L.P. (NYSE:SGU) by 12.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 622,573 shares of the pipeline company’s stock after buying an additional 66,806 shares during the period. JPMorgan Chase & Co. owned 1.80% of Star Group worth $7,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SGU. Victory Capital Management Inc. acquired a new stake in Star Group in the 3rd quarter valued at about $566,000. Acadian Asset Management LLC acquired a new stake in shares of Star Group in the second quarter valued at approximately $232,000. GSA Capital Partners LLP lifted its position 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 worth $269,000 after buying an additional 10,799 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Star Group during the 2nd quarter valued at about $124,000. Finally, Renaissance Technologies LLC boosted its position 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 valued at $10,623,000 after acquiring an additional 2,800 shares during the last quarter. 40.36% of the stock is owned by hedge funds and other institutional investors.

Star Group Stock Performance

Shares of SGU stock opened at $11.44 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.64 and a current ratio of 0.75. The firm has a market cap of $395.57 million, a P/E ratio of 20.07 and a beta of 0.48. The firm’s 50 day moving average price is $11.83 and its 200-day moving average price is $11.55. Star Group, L.P. has a one year low of $9.64 and a one year high of $12.93.

Star Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 28th were given a dividend of $0.1725 per share. The ex-dividend date was Monday, October 28th. This represents a $0.69 annualized dividend and a dividend yield of 6.03%. Star Group’s dividend payout ratio is currently 121.05%.

Analyst Upgrades and Downgrades

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

About Star Group

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.