JPMorgan Chase & Co. Raises Holdings in Star Group, L.P. (NYSE:SGU)

JPMorgan Chase & Co. raised its position in shares of Star Group, L.P. (NYSE:SGU - Free Report) by 12.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 622,573 shares of the pipeline company's stock after acquiring an additional 66,806 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.80% of Star Group worth $7,309,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SGU. Victory Capital Management Inc. acquired a new position in shares of Star Group in the 3rd quarter valued at $566,000. GSA Capital Partners LLP increased its stake in Star Group by 89.4% during 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. Renaissance Technologies LLC raised its stake in shares of Star Group by 0.3% in the second quarter. Renaissance Technologies LLC now owns 998,445 shares of the pipeline company's stock valued at $10,623,000 after acquiring an additional 2,800 shares in the last quarter. American Century Companies Inc. acquired a new stake in Star Group in the 2nd quarter valued at about $124,000. Finally, Acadian Asset Management LLC acquired a new stake in Star Group in the second quarter valued at approximately $232,000. 40.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Star Group from a "strong-buy" rating to a "buy" rating in a report on Friday, December 6th.

Star Group Stock Up 1.3 %

Shares of NYSE:SGU opened at $11.44 on Wednesday. The firm has a fifty day moving average price of $11.83 and a 200 day moving average price of $11.55. Star Group, L.P. has a 1-year low of $9.64 and a 1-year high of $12.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.75 and a quick ratio of 0.64. The stock has a market cap of $395.57 million, a P/E ratio of 20.07 and a beta of 0.48.

Star Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 28th were issued a dividend of $0.1725 per share. The ex-dividend date was Monday, October 28th. This represents a $0.69 annualized dividend and a yield of 6.03%. Star Group's dividend payout ratio is currently 121.05%.

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.