Star Group (NYSE:SGU) announced that its board has initiated a stock buyback program, which allows the company to repurchase 3,300,000 outstanding shares on Monday, February 5th, EventVestor reports. This repurchase authorization allows the pipeline company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Shares of Star Group (NYSE:SGU) opened at $9.55 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $572.28, a PE ratio of 15.92 and a beta of 0.07. Star Group has a 12 month low of $9.00 and a 12 month high of $11.70.
Star Group (NYSE:SGU) last posted its quarterly earnings data on Wednesday, January 31st. The pipeline company reported $0.24 earnings per share for the quarter. The business had revenue of $436.83 million for the quarter. Star Group had a return on equity of 8.31% and a net margin of 2.82%.
About Star Group
Star Group, L.P., formerly Star Gas Partners, L.P., is a service energy provider. The Company is a home heating oil and propane distributor and services provider. It also sells gasoline and diesel fuel to customers on a delivery only basis. The Company installs, maintains and repairs heating and air conditioning equipment, and provides these services outside its customer base, including service contracts for natural gas and other heating systems.
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