Star Group L.P. - Unit (SGU) Declares $0.16 Dividend

Star Group L.P. - 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 as of July 24, 2023 will receive the payment on July 31, 2023.

At the current share price of $13.24 / share, the stock's dividend yield is 4.91%.

Looking back five years and taking a sample every week, the average dividend yield has been 5.47%, the lowest has been 4.34%, and the highest has been 7.73%. The standard deviation of yields is 0.66 (n=235).

The current dividend yield is 0.85 standard deviations 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 in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to 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 the Fund Sentiment?

There are 83 funds or institutions reporting positions in Star Group L.P. - 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%. Total shares owned by institutions increased in the last three months by 0.87% to 12,131K shares. The put/call ratio of SGU is 0.01, indicating a bullish outlook.

What are Other Shareholders Doing?

Bandera Partners holds 3,465K shares representing 9.73% ownership of the company. No change in the last quarter.

Hartree Partners holds 2,870K shares representing 8.06% ownership of the company. In it's prior filing, the firm reported owning 1,170K shares, representing an increase of 59.24%. The firm increased its portfolio allocation in SGU by 99.14% over the last quarter.

Oakcliff Capital Partners holds 1,115K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 1,305K shares, representing a decrease of 17.04%. The firm decreased its portfolio allocation in SGU by 14.10% over the last quarter.

Renaissance Technologies holds 996K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 1,054K shares, representing a decrease of 5.85%. The firm decreased its portfolio allocation in SGU by 1.37% over the last quarter.

Brown Advisory holds 895K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 1,237K shares, representing a decrease of 38.13%. The firm decreased its portfolio allocation in SGU by 65.94% over the last quarter.

Star Group Background Information
(This description is provided by the company.)

Star Group, L.P. 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, provides these offerings to customers outside of its home heating oil and propane customer base. In certain of Star's marketing areas, the Company provides plumbing services, primarily to its home heating oil and propane customer base. Star also sells diesel, gasoline and home heating oil on a delivery only basis. We believe Star is the nation's largest retail distributor of home heating oil based upon sales volume. Including its propane locations, Star serves customers in the more northern and eastern states within the Northeast, Central and Southeast U.S. regions.

Additional reading:

• Star Group, L.P. Declares Quarterly Distribution of 16.25 Cents per Unit
• Star Group, L.P. Reports Fiscal 2023 Second Quarter Results
• Star Group, L.P. Increases Quarterly Distribution of 16.25 Cents per Unit
• Unit Purchase Rights Agreement, dated as of March 24, 2023, by and between the Partnership and Computershare Trust Company, N.A., as rights agent (which includes the Form of Rights Certificate as Exhibit A thereto).
• Amendment No.1 dated as of March 24, 2023 to the Third Amended and Restated Agreement of Limited Partnership of Star Group, L.P.

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.