Short-term stake in Star Group, LP (NYSE:SGU) drops 36.8%


Star Group, LP (NYSE:SGU – Get Rating) benefited from a sharp drop in short-term interest rates in April. As of April 15, there was short interest totaling 25,600 shares, down 36.8% from the March 31 total of 40,500 shares. Based on an average trading volume of 73,600 shares, the short-term interest rate ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Separately, StockNews.com upgraded Star Group from a “buy” rating to a “strong buy” rating in a research report on Wednesday.

SGU was down $0.20 in Friday’s midday session, hitting $10.68. 56,976 shares of the company were traded, against an average volume of 48,635. The company’s 50-day simple moving average is $10.73 and its 200-day simple moving average is $10.65. The company has a market capitalization of $402.42 million, a price-earnings ratio of 9.29 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.55 and a debt ratio of 0.32. Star Group has a 1-year minimum of $9.58 and a 1-year maximum of $12.03.

Star Group (NYSE:SGU – Get Rating) last announced its quarterly results on Wednesday, February 2. The pipeline company reported earnings per share of $0.32 for the quarter. The company posted revenue of $488.27 million for the quarter. Star Group had a return on equity of 21.37% and a net margin of 3.99%.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 3. Shareholders of record on Monday, April 25 will receive a dividend of $0.1525 per share. This is an increase from Star Group’s previous quarterly dividend of $0.14. This represents an annualized dividend of $0.61 and a yield of 5.71%. The ex-dividend date is Friday, April 22. Star Group’s dividend payout ratio (DPR) is currently 53.04%.

Institutional investors and hedge funds have recently changed their positions in the company. Millennium Management LLC increased its position in Star Group shares by 39.0% during the 4th quarter. Millennium Management LLC now owns 28,517 shares of the pipeline company valued at $307,000 after acquiring an additional 8,002 shares during the period. Credit Suisse AG acquired a new stake in shares of Star Group during the 4th quarter, valued at approximately $135,000. State Street Corp increased its position in Star Group shares by 6.6% during the fourth quarter. State Street Corp now owns 87,870 shares of the pipeline company valued at $946,000 after acquiring an additional 5,417 shares during the period. Goldman Sachs Group Inc. increased its position in Star Group shares by 9.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 24,647 shares of the pipeline company valued at $265,000 after acquiring 2,205 additional shares during the period. Finally, Invesco Ltd. increased its position in Star Group shares by 8.6% during the 4th quarter. Invesco Ltd. now owns 80,688 shares of the pipeline company valued at $869,000 after acquiring an additional 6,390 shares during the period. 34.33% of the shares are currently held by institutional investors.

About Star Group (Get an assessment)

Star Group, LP sells home heating and cooling products and services to residential and commercial home heating oil and propane customers in the United States. It also sells diesel fuel, gasoline and heating oil on a delivery-only basis, as well as plumbing services; and installs, maintains and repairs heating and air conditioning equipment.

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