Maridea Wealth Management LLC Makes New $550,000 Investment in Star Group, L.P. $SGU

Maridea Wealth Management LLC acquired a new stake in shares of Star Group, L.P. (NYSE:SGU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,815 shares of the pipeline company’s stock, valued at approximately $550,000. Maridea Wealth Management LLC owned 0.13% of Star Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SGU. Lubar & Co. Inc bought a new position in shares of Star Group in the 4th quarter worth about $15,344,000. Renaissance Technologies LLC boosted its stake in Star Group by 1.1% during the first quarter. Renaissance Technologies LLC now owns 910,108 shares of the pipeline company’s stock worth $11,176,000 after acquiring an additional 10,281 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Star Group by 14.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 129,080 shares of the pipeline company’s stock worth $1,585,000 after acquiring an additional 16,544 shares in the last quarter. UBS Group AG grew its holdings in Star Group by 6.8% in the third quarter. UBS Group AG now owns 52,025 shares of the pipeline company’s stock worth $615,000 after purchasing an additional 3,333 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Star Group by 77.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 31,891 shares of the pipeline company’s stock worth $378,000 after purchasing an additional 13,887 shares during the period. Institutional investors own 40.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Star Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings cut Star Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Star Group currently has an average rating of “Hold”.

Star Group Price Performance

Shares of NYSE SGU opened at $12.66 on Friday. The firm has a market cap of $415.79 million, a P/E ratio of 6.77 and a beta of 0.33. Star Group, L.P. has a twelve month low of $11.37 and a twelve month high of $13.53. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $12.78 and a 200 day moving average of $12.76.

Star Group (NYSE:SGU) last issued its earnings results on Wednesday, August 5th. The pipeline company reported ($0.84) EPS for the quarter. The business had revenue of $358.07 million for the quarter. Star Group had a net margin of 4.57% and a return on equity of 24.43%.

Star Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 27th were issued a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Monday, July 27th. Star Group’s dividend payout ratio is presently 42.25%.

Star Group 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. It also sells gasoline and diesel fuel to approximately 26,600 customers.