Star Group, L.P. (NYSE:SGU) recently saw its share price rise above the significant 200-day moving average during trading on Monday. The stock, which has a 200-day moving average of $11.78, reached a high of $12.31 before closing at $12.2350, with a trading volume of 16,647 shares.
Analyst Upgrades and Downgrades
The stock has drawn attention from various analysts, resulting in mixed ratings. Wall Street Zen upgraded Star Group from a “hold” rating to a “buy” on December 13, 2023. Conversely, Weiss Ratings downgraded the stock from a “buy (b-)” to a “hold (c+)” on December 29, 2023. Currently, one analyst rates the stock as a “hold,” and according to data from MarketBeat.com, the consensus rating remains a “hold.”
Star Group’s recent performance reflects a modest decline of 0.3%.
Dividend Announcement and Institutional Investment
The company also announced a quarterly dividend of $0.185 per share, which was paid on November 5, 2023. This dividend, representing an annualized rate of $0.74, yields approximately 6.0%. The ex-dividend date was on October 27, 2023, with a dividend payout ratio of 50.00%.
Institutional investors have shown a growing interest in Star Group. Notable transactions include Goldman Sachs Group Inc. acquiring a stake worth around $231,000 in the first quarter, and Fifth Third Bancorp investing $191,000 in the second quarter. Hyperion Capital Advisors LP made a larger acquisition of $344,000 during the same period. Additionally, GSA Capital Partners LLP increased its stake by 23.0% in the third quarter, bringing its total to 35,534 shares valued at $420,000. Currently, institutional investors and hedge funds hold approximately 40.36% of the stock.
Star Group, L.P. provides home heating oil and propane products and services across the United States. As of September 30, 2023, the company has approximately 402,200 full-service residential and commercial heating oil and propane customers, in addition to 52,400 customers on a delivery-only basis. The company also sells gasoline and diesel fuel to around 26,600 customers.
As analysts continue to evaluate Star Group’s performance, investors will be watching closely to determine future trends in the stock’s movement and potential impacts on their portfolios.
