Stocks

Star Group, L.P. (NYSE:SGU) Sees 25.7% Drop in Short Interest in December

Published December 29, 2024

Star Group, L.P. (NYSE:SGU) experienced a notable decrease in short interest throughout December. As of December 15th, the short interest for the company totaled 53,900 shares, which represents a significant decline of 25.7% compared to the 72,500 shares reported on November 30th. With an average daily trading volume of 20,400 shares, the current days-to-cover ratio stands at 2.6 days. This indicates that roughly 0.2% of the company's shares are currently sold short.

Analyst Opinions

In related news, StockNews.com has downgraded Star Group from a "strong-buy" rating to a "buy" rating in a report issued on December 6th.

Star Group's Stock Performance

During trading on Friday, Star Group's shares rose by 0.8%, reaching a price of $11.61. The stock recorded a trading volume of 11,409 shares, which is below its average trading volume of 40,316. Star Group holds a market capitalization of $401.45 million and has a price-to-earnings ratio of 20.37. The company's beta stands at 0.46. The stock has experienced a 52-week range, with a low of $9.64 and a high of $12.93. Financial metrics for the company include a debt-to-equity ratio of 0.71, a current ratio of 0.75, and a quick ratio of 0.64.

Dividend Announcement

Recently, Star Group announced the payment of a quarterly dividend, which occurred on November 6th. Investors who were on the record as of October 28th received a dividend of $0.1725 per share. This annualizes to $0.69, giving a yield of 5.94%. The ex-dividend date for this payout was also October 28th. The company has a dividend payout ratio (DPR) of 121.05%, indicating that it distributes more in dividends than it earns in profit.

Institutional Investors' Activity

Several institutional investors have recently engaged in transactions related to Star Group shares. American Century Companies Inc. acquired a new stake in the company during the second quarter, amounting to about $124,000. Similarly, Acadian Asset Management LLC bought shares worth approximately $232,000. GSA Capital Partners LLP increased its holdings in Star Group by 89.4% in the third quarter, now owning 22,884 shares valued at $269,000 following an additional purchase of 10,799 shares. Victory Capital Management Inc. bought a new position valued at about $566,000 during the same time period. Lastly, JPMorgan Chase & Co. raised its stake by 12.0% in the third quarter, now owning 622,573 shares worth $7,309,000 after buying 66,806 more shares. Hedge funds and institutional investors collectively own 40.36% of Star Group's stock.

Company Overview

Star Group, L.P. and its subsidiaries provide essential heating and fuel services, including home heating oil and propane, to customers across the United States. This covers residential and commercial sectors. Additionally, the company offers gasoline, diesel fuel, and services for the installation, maintenance, and repair of heating and air conditioning systems. As of September 30, 2023, Star Group served around 402,200 customers who receive full-service home heating oil and propane, in addition to 52,400 customers on a delivery-only basis.