Star Group, L.P. (NYSE:SGU) Short Interest Down 23.9% in February

Star Group, L.P. (NYSE:SGU) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 61,200 shares, a decline of 23.9% from the February 13th total of 80,400 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 31,100 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Star Group by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company’s stock worth $7,309,000 after buying an additional 66,806 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Star Group in the 3rd quarter worth about $566,000. GSA Capital Partners LLP grew its position in shares of Star Group by 89.4% in the 3rd quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock worth $269,000 after buying an additional 10,799 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Star Group in the 4th quarter worth about $122,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Star Group in the 4th quarter worth about $144,000. 40.36% of the stock is owned by hedge funds and other institutional investors.

Star Group Trading Up 3.6 %

NYSE:SGU traded up $0.47 during midday trading on Monday, reaching $13.58. 24,260 shares of the stock traded hands, compared to its average volume of 40,035. The company has a fifty day moving average of $12.34 and a 200 day moving average of $11.97. Star Group has a 12 month low of $9.64 and a 12 month high of $13.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.66 and a current ratio of 0.83. The stock has a market capitalization of $469.42 million, a P/E ratio of 13.06 and a beta of 0.46.

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

Star Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Monday, January 27th were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Monday, January 27th. Star Group’s payout ratio is currently 66.35%.

Analyst Ratings Changes

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

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.