Star Group, L.P. (NYSE:SGU) Plans Dividend Increase – $0.17 Per Share

Star Group, L.P. (NYSE:SGU) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders 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 dividend yield of 6.70%. The ex-dividend date is Friday, April 26th. This is an increase 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 every year for the last 11 years.

Star Group Stock Up 1.7 %

Shares of NYSE:SGU traded up $0.17 during midday trading on Friday, hitting $10.30. 58,369 shares of the stock were exchanged, compared to its average volume of 34,984. Star Group has a 52-week low of $9.90 and a 52-week high of $15.22. The business’s fifty day simple moving average is $10.67 and its two-hundred day simple moving average is $11.52. 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 PE ratio of 19.92 and a beta of 0.48.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SGU. JPMorgan Chase & Co. raised its holdings in Star Group by 29,929.7% in the 4th quarter. JPMorgan Chase & Co. now owns 641,735 shares of the pipeline company’s stock valued at $7,733,000 after acquiring an additional 639,598 shares during the period. Bandera Partners LLC grew its position in shares of Star Group by 4.6% during 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. Goldman Sachs Group Inc. acquired a new position in shares of Star Group during the 4th quarter worth approximately $917,000. Wells Fargo & Company MN grew its position in shares of Star Group by 604.4% during the 4th quarter. Wells Fargo & Company MN now owns 89,645 shares of the pipeline company’s stock worth $1,080,000 after purchasing an additional 76,918 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Star Group during the 2nd quarter worth approximately $735,000. 40.36% of the stock is owned by institutional investors.

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.