Cove Street Capital LLC Sells 4,677 Shares of Star Group, L.P. (NYSE:SGU)

Cove Street Capital LLC reduced its position in shares of Star Group, L.P. (NYSE:SGUFree Report) by 21.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,023 shares of the pipeline company’s stock after selling 4,677 shares during the period. Cove Street Capital LLC’s holdings in Star Group were worth $202,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SGU. JPMorgan Chase & Co. raised its stake in Star Group by 29,929.7% in the fourth quarter. JPMorgan Chase & Co. now owns 641,735 shares of the pipeline company’s stock valued at $7,733,000 after purchasing an additional 639,598 shares in the last quarter. Hartree Partners LP raised its position in shares of Star Group by 8.8% during the 2nd quarter. Hartree Partners LP now owns 3,123,253 shares of the pipeline company’s stock valued at $42,664,000 after buying an additional 253,160 shares in the last quarter. Bandera Partners LLC lifted its holdings 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 acquiring an additional 151,002 shares during the last quarter. Wells Fargo & Company MN grew its position in Star Group by 604.4% in the fourth quarter. Wells Fargo & Company MN now owns 89,645 shares of the pipeline company’s stock worth $1,080,000 after acquiring an additional 76,918 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Star Group in the second quarter valued at $735,000. Institutional investors own 33.34% of the company’s stock.

Star Group Trading Up 3.0 %

NYSE SGU traded up $0.33 during trading on Monday, hitting $11.32. 11,365 shares of the company’s stock traded hands, compared to its average volume of 31,270. The stock has a fifty day moving average of $12.15 and a two-hundred day moving average of $12.04. Star Group, L.P. has a 12-month low of $10.21 and a 12-month high of $15.22. The firm has a market cap of $402.88 million, a P/E ratio of 21.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.76 and a quick ratio of 0.56.

Star Group (NYSE:SGUGet Free Report) last issued its earnings results on Wednesday, December 6th. The pipeline company reported ($0.55) earnings per share 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 $266.94 million for the quarter.

Star Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, January 22nd were issued a $0.1625 dividend. This represents a $0.65 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Friday, January 19th. Star Group’s dividend payout ratio is 125.00%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. StockNews.com upgraded Star Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 8th. TheStreet upgraded shares of Star Group from a “c” rating to a “b-” rating in a report on Friday, December 8th.

Read Our Latest Stock Report on Star Group

About Star Group

(Free Report)

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.

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Institutional Ownership by Quarter for Star Group (NYSE:SGU)

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