Star Group LP – Unit said on July 13, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.65 annualized). Previously, the company paid $0.16 per share.
Shareholders of record on July 24, 2023 will receive payment on July 31, 2023.
At the current share price of $13.24/share, the dividend yield of the stock is 4.91%.
Looking back five years and taking a sample each week, the average dividend yield was 5.47%, the lowest 4.34% and the highest 7.73%. The standard deviation of returns is 0.66 (n=235).
The current dividend yield is 0.85 standard deviation below the historical average.
Additionally, the company’s dividend payout ratio is 1.56. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.23%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 83 funds or institutions reporting positions in Star Group LP – Unit. This is a decrease of 8 owner(s) or 8.79% in the last quarter. Average portfolio weight of all funds dedicated to SGU is 0.61%, an increase of 73.70%. The total number of shares held by institutions has increased over the past three months by 0.87% to 12,131,000 shares. 
SGU’s put/call ratio is 0.01, indicating a bullish outlook.
What are the other shareholders doing?
Bandera Partners owns 3,465,000 shares representing 9.73% ownership of the company. No change in the last quarter.
Hartree Partners holds 2,870,000 shares representing 8.06% ownership of the company. In its previous filing, the company said it held 1,170,000 shares, representing a raise of 59.24%. The company increase its SGU portfolio allocation of 99.14% in the last quarter.
Oakcliff Capital Partners holds 1,115,000 shares representing 3.13% ownership of the company. In its previous filing, the company said it held 1,305,000 shares, representing a decrease of 17.04%. The company decreases its SGU portfolio allocation by 14.10% in the last quarter.
Renaissance Technologies holds 996,000 shares representing 2.80% ownership of the company. In its previous filing, the company stated that it holds 1,054,000 shares, representing a decrease 5.85%. The company decreases its portfolio allocation to SGU by 1.37% in the last quarter.
Brown Advisory holds 895,000 shares representing 2.51% ownership of the company. In its previous filing, the company said it held 1,237,000 shares, representing a decrease of 38.13%. The company decreases its SGU portfolio allocation of 65.94% in the last quarter.
General information about the star group
(This description is provided by the company.)
Star Group, LP is a full-service provider specializing in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings. The Company also sells and services heating and air conditioning equipment to its home heating oil and propane customers and, to a lesser extent, offers these offerings to customers outside of its home heating oil and propane customer base. In some of Star’s marketing areas, the Company provides plumbing services, primarily to its heating oil and propane customers. Star also sells diesel, gasoline and heating oil on a delivery-only basis. We believe Star is the largest home heating oil retailer in the country based on sales volume. Including its propane locations, Star serves customers in the northernmost and easternmost states of the Northeast, Central, and Southeast regions of the United States.
Further reading:
- Star Group, LP Declares Quarterly Distribution of 16.25 Cents Per Unit
- Star Group, LP Announces Second Quarter Fiscal 2023 Results
- Star Group, LP increases its quarterly distribution by 16.25 cents per unit
- Unit Rights Agreement, dated March 24, 2023, by and between the Partnership and Computershare Trust Company, NA, as Rights Agent (which includes the Rights Certificate Form as Schedule A).
- Amendment No. 1 dated March 24, 2023 to the third amended and restated agreement of the limited partnership of Star Group, LP
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.