LPL Financial LLC Grows Stock Position in Star Group, L.P. (NYSE:SGU)

LPL Financial LLC increased its holdings in Star Group, L.P. (NYSE:SGU) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,932 shares of the pipeline company’s stock after acquiring an additional 1,276 shares during the period. LPL Financial LLC’s holdings in Star Group were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SGU. Crews Bank & Trust purchased a new position in shares of Star Group during the fourth quarter worth $25,000. Jones Financial Companies Lllp acquired a new position in Star Group during the 4th quarter worth about $27,000. Roxbury Financial LLC purchased a new position in Star Group during the 4th quarter valued at about $122,000. Finally, JPMorgan Chase & Co. grew its position in Star Group by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company’s stock valued at $7,309,000 after acquiring an additional 66,806 shares in the last quarter. Institutional investors and hedge funds own 40.36% of the company’s stock.

Wall Street Analyst Weigh In

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

Star Group Stock Performance

NYSE:SGU opened at $12.36 on Wednesday. Star Group, L.P. has a 52 week low of $9.64 and a 52 week high of $13.75. The company has a fifty day simple moving average of $12.98 and a two-hundred day simple moving average of $12.27. 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 company has a market cap of $427.08 million, a price-to-earnings ratio of 11.88 and a beta of 0.35.

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

Star Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 28th will be paid a $0.185 dividend. The ex-dividend date is Monday, April 28th. This represents a $0.74 dividend on an annualized basis and a yield of 5.99%. This is an increase from Star Group’s previous quarterly dividend of $0.17. Star Group’s payout ratio is currently 71.15%.

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.