Star Group, L.P. (NYSE:SGU) Increases Dividend to $0.17 Per Share

Star Group, L.P. (NYSE:SGU) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Monday, April 29th will be given a dividend of 0.1725 per share by the pipeline company on Wednesday, May 8th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Star Group’s previous quarterly dividend of $0.16.

Star Group has raised its dividend by an average of 7.0% per year over the last three years and has raised its dividend every year for the last 11 years.

Star Group Trading Down 0.9 %

NYSE:SGU opened at $11.23 on Thursday. The firm’s fifty day moving average is $10.65 and its 200-day moving average is $11.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.56 and a current ratio of 0.76. Star Group has a 52 week low of $9.90 and a 52 week high of $15.22. The firm has a market cap of $399.45 million, a P/E ratio of 21.60 and a beta of 0.48.

Star Group (NYSE:SGU) last posted its quarterly earnings data on Wednesday, February 7th. The pipeline company reported $0.32 EPS for the quarter. Star Group had a net margin of 1.72% and a return on equity of 11.07%. The company had revenue of $528.10 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Star Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 13th.

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.