Star Group, L.P. (NYSE:SGU) Raises Dividend to $0.17 Per Share

Star Group, L.P. (NYSE:SGU) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Monday, April 29th will be given a dividend of 0.1725 per share by the pipeline company on Wednesday, May 8th. This represents a $0.69 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Star Group’s previous quarterly dividend of $0.16.

Star Group has increased its dividend payment by an average of 7.0% annually over the last three years and has raised its dividend annually for the last 11 consecutive years.

Star Group Trading Up 1.7 %

NYSE SGU opened at $10.30 on Friday. The firm has a market cap of $366.37 million, a PE ratio of 19.81 and a beta of 0.48. Star Group has a 1-year low of $9.90 and a 1-year high of $15.22. The stock has a 50-day moving average of $10.65 and a 200-day moving average of $11.51. The company has a current ratio of 0.76, a quick ratio of 0.56 and a debt-to-equity ratio of 0.46.

Star Group (NYSE:SGU) last announced its quarterly earnings data on Wednesday, February 7th. The pipeline company reported $0.32 earnings per share for the quarter. The firm had revenue of $528.10 million during the quarter. Star Group had a return on equity of 11.07% and a net margin of 1.72%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Star Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Swiss National Bank increased its stake in shares of Star Group by 5.4% during the first quarter. Swiss National Bank now owns 84,303 shares of the pipeline company’s stock valued at $936,000 after buying an additional 4,300 shares during the period. Prudential Financial Inc. increased its position in Star Group by 33.3% during the 1st quarter. Prudential Financial Inc. now owns 18,400 shares of the pipeline company’s stock valued at $204,000 after purchasing an additional 4,600 shares during the period. Bandera Partners LLC raised its holdings in Star Group by 4.6% in the 1st quarter. Bandera Partners LLC now owns 3,465,117 shares of the pipeline company’s stock worth $38,463,000 after purchasing an additional 151,002 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Star Group by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,311,245 shares of the pipeline company’s stock worth $14,555,000 after purchasing an additional 28,900 shares during the period. Finally, State Street Corp boosted its stake in shares of Star Group by 1.3% during the 1st quarter. State Street Corp now owns 88,978 shares of the pipeline company’s stock valued at $988,000 after purchasing an additional 1,108 shares in the last quarter. Hedge funds and other institutional investors own 40.36% of the company’s stock.

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.