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 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date of this dividend is Friday, April 26th. This is a boost from Star Group’s previous quarterly dividend of $0.16.

Star Group has increased its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend every year for the last 11 years.

Star Group Stock Up 1.7 %

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

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Star Group

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Star Group by 1.3% in the 1st quarter. State Street Corp now owns 88,978 shares of the pipeline company’s stock worth $988,000 after buying an additional 1,108 shares during the last quarter. Credit Suisse AG increased its position in shares of Star Group by 4.4% during the second quarter. Credit Suisse AG now owns 31,978 shares of the pipeline company’s stock worth $293,000 after purchasing an additional 1,345 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Star Group by 4.8% during the 1st quarter. California State Teachers Retirement System now owns 31,837 shares of the pipeline company’s stock valued at $353,000 after purchasing an additional 1,455 shares during the last quarter. UBS Group AG boosted its position in shares of Star Group by 3.8% in the 3rd quarter. UBS Group AG now owns 40,197 shares of the pipeline company’s stock worth $484,000 after purchasing an additional 1,482 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its position in shares of Star Group by 17.6% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 18,927 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 2,831 shares in the last quarter. 40.36% of the stock is currently owned by institutional investors.

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.