Star Group, L.P. (NYSE:SGU) Shares Sold by Brown Advisory Inc.

Posted by Defense World Staff on Jun 11th, 2023

Brown Advisory Inc. reduced its holdings in Star Group, L.P. (NYSE:SGU – Get Rating) by 29.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,236,762 shares of the pipeline company’s stock after selling 504,416 shares during the quarter. Brown Advisory Inc. owned about 3.46% of Star Group worth $14,903,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UBS Group AG lifted its holdings in shares of Star Group by 50.7% in the 3rd quarter. UBS Group AG now owns 6,584 shares of the pipeline company’s stock valued at $53,000 after buying an additional 2,216 shares during the period. Trexquant Investment LP acquired a new stake in shares of Star Group in the 3rd quarter valued at approximately $97,000. Envestnet Asset Management Inc. acquired a new stake in shares of Star Group in the 2nd quarter valued at approximately $105,000. Legal & General Group Plc lifted its holdings in shares of Star Group by 365.5% in the 2nd quarter. Legal & General Group Plc now owns 12,312 shares of the pipeline company’s stock valued at $113,000 after buying an additional 9,667 shares during the period. Finally, Royal Bank of Canada acquired a new stake in shares of Star Group in the 1st quarter valued at approximately $115,000. 28.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Star Group in a research note on Thursday, May 18th. They issued a “buy” rating for the company.

Star Group Stock Performance

NYSE SGU opened at $15.10 on Friday. Star Group, L.P. has a 1-year low of $8.00 and a 1-year high of $15.15. The company has a market capitalization of $537.56 million, a P/E ratio of 151.02 and a beta of 0.49. The business has a 50 day moving average price of $13.57 and a 200 day moving average price of $12.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.73.

Star Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 2nd. Investors of record on Monday, April 24th were paid a $0.1625 dividend. This is an increase from Star Group’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Friday, April 21st. Star Group’s dividend payout ratio (DPR) is presently 650.07%.

Star Group Profile

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