The recent investment by HRT Financial LP in Star Group, L.P. demonstrates the confidence that investors have in this pipeline company. The acquisition of 36,264 shares valued at approximately $436,000 signifies the growing interest of institutional investors in this energy company.
Star Group is a leading provider of home heating oil, propane and other fuel-related services to both residential and commercial customers. Alongside its core energy services, it also engages in the sale of diesel fuel, gasoline and home heating oil on a delivery-only basis. With over two decades of experience under its belt, this Stamford-based company has firmly cemented a presence in the industry.
On Monday, shares of NYSE:SGU opened at $14.11, reflecting a market capitalization of $502.32 million with a PE ratio of 141.11 and beta of 0.49. With a debt-to-equity ratio standing at 0.44%, this mid-cap firm appears to be well poised for growth amidst an increasing demand for diverse energy assets.
Despite the recent volatility and uncertainty due to economic disruptions caused by COVID-19 pandemic – which consequently led to fluctuations in oil prices – Star Group has weathered the storm remarkably well when compared to its peers within the same industry.
Investors looking ahead should keep a close eye on how Star Group navigates these unprecedented times as it continues to provide essential services primarily required during winter seasons across various markets.
As institutions like HRT Financial LP purchase new positions in such companies as Star Group it is clear that organizations are relying on their insight not only from past industry performance but also from predictions for what will occur post-pandemic ensuring areas unaffected are covered thoroughly pivoting where necessary while remaining committed to delivering reliable products and stable services now more than ever before when consumers business empires face challenges generated by global changes arising daily.
In conclusion, with its impressive range of solutions offered and its top-notch reputation, Star Group, L.P. will continue to provide investors with a strong return that’s also matched by supporting environmentalism and ensuring operations are executed in a healthy, safe way.
Institutional Investors and Hedge Funds Show Confidence in Star Group LP with Increased Stakes and Bullish Ratings
Star Group LP, a pipeline company, has seen an increase in stakes from institutional investors and hedge funds recently. According to reports, Bandera Partners LLC grew its holdings in Star Group by 4.6% during the first quarter, which amounts to approximately $38,463,000 worth of shares. Renaissance Technologies LLC also grew its holdings in Star Group by 2.3% during Q1 with shares worth around $14,555,000. Meanwhile, BlackRock Inc., State Street Corp and Swiss National Bank each increased their positions in the pipeline company’s stock as well. These investments bring the total percentage of company stock owned by institutional investors and hedge funds to 28.25%.
In addition to these positive developments for Star Group LP, StockNews.com initiated coverage on the company’s shares with a “buy” rating in May. The firm’s confidence in the pipeline company is likely due to its recent declaration of a quarterly dividend that was paid out on May 2nd. Investors who were recorded on April 24th received a dividend of $0.1625 per share. This represents a boost from Star Group’s previous $0.15 quarterly dividend payout and equates to an annualized yield of 4.61%.
Overall, these investments show a significant vote of confidence in Star Group LP and its growth potential as it continues to expand into new markets and industries beyond pipelines alone. With strong support from institutional investors and bullish ratings from industry analysts, Star Group looks set for even more success moving forward.