Short Interest in Star Group, L.P. (NYSE:SGU) Drops By 23.9%

Star Group, L.P. (NYSE:SGU) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 61,200 shares, a decline of 23.9% from the February 13th total of 80,400 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 31,100 shares, the short-interest ratio is presently 2.0 days.

Star Group Trading Up 1.4 %

NYSE:SGU traded up $0.19 on Wednesday, hitting $13.49. The stock had a trading volume of 5,577 shares, compared to its average volume of 39,944. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.63. The stock has a market cap of $466.31 million, a price-to-earnings ratio of 12.97 and a beta of 0.46. The company has a fifty day moving average price of $12.42 and a two-hundred day moving average price of $11.99. Star Group has a 1-year low of $9.64 and a 1-year high of $13.75.

Star Group (NYSE:SGU) last announced its earnings results on Wednesday, February 5th. The pipeline company reported $0.79 earnings per share for the quarter. Star Group had a net margin of 3.19% and a return on equity of 18.47%.

Star Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Monday, January 27th were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $0.69 annualized dividend and a yield of 5.11%. Star Group’s dividend payout ratio is currently 66.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crews Bank & Trust purchased a new stake in shares of Star Group in the fourth quarter valued at about $25,000. State of Tennessee Department of Treasury acquired a new position in Star Group during the fourth quarter worth about $26,000. Jones Financial Companies Lllp acquired a new position in Star Group during the fourth quarter worth about $27,000. Roxbury Financial LLC acquired a new position in shares of Star Group in the fourth quarter valued at approximately $122,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Star Group in the fourth quarter valued at approximately $144,000. 40.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Star Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th.

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.