MTM Investment Management LLC Decreases Stock Holdings in Star Group, L.P. (NYSE:SGU)

MTM Investment Management LLC decreased its position in Star Group, L.P. (NYSE:SGU) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,126 shares of the pipeline company’s stock after selling 2,298 shares during the quarter. MTM Investment Management LLC’s holdings in Star Group were worth $140,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in shares of Star Group in the fourth quarter valued at about $25,000. GSA Capital Partners LLP increased its position in shares of Star Group by 89.4% during the third quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock valued at $269,000 after buying an additional 10,799 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Star Group during the third quarter valued at about $566,000. Finally, JPMorgan Chase & Co. increased its position in shares of Star Group by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company’s stock valued at $7,309,000 after buying an additional 66,806 shares during the period. Hedge funds and other institutional investors own 40.36% of the company’s stock.

Star Group Price Performance

Shares of NYSE SGU opened at $12.69 on Thursday. Star Group, L.P. has a 1 year low of $9.64 and a 1 year high of $12.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.83 and a quick ratio of 0.64. The company’s 50-day moving average is $11.71 and its 200 day moving average is $11.69. The stock has a market capitalization of $438.65 million, a P/E ratio of 12.20 and a beta of 0.48.

Star Group (NYSE:SGU) last posted its quarterly earnings data 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Monday, January 27th were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 5.44%. The ex-dividend date was Monday, January 27th. Star Group’s payout ratio is currently 66.35%.

Analysts Set New Price Targets

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

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.