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Star (SGU)

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.

Company profile

Ticker
SGU
Exchange
CEO
Jeffrey M. Woosnam
Employees
Incorporated
Location
Fiscal year end
Former names
STAR GAS PARTNERS LP, STAR GROUP LP
SEC CIK
Subsidiaries
Champion Energy • Griffith Energy • Hoffman Fuel Company • Meenan Holdings • Meenan Oil Co. • Milro Group • Petro Holdings • Petroleum Heat and Power Co. • Region Oil Plumbing, Heating and Cooling Co. • Woodbury Insurance Co. ...
IRS number
61437793

SGU stock data

Calendar

3 Aug 22
12 Aug 22
30 Sep 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Sep 21 Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 8.96M 8.96M 8.96M 8.96M 8.96M 8.96M
Cash burn (monthly) 2.91M (no burn) 4.78M (no burn) (no burn) 1.83M
Cash used (since last report) 4.23M n/a 6.96M n/a n/a 2.67M
Cash remaining 4.73M n/a 2M n/a n/a 6.29M
Runway (months of cash) 1.6 n/a 0.4 n/a n/a 3.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 May 22 Ambury Richard Common Units Buy Acquire P No No 9.24 5,000 46.2K 43,390
23 May 22 Woosnam Jeffrey M Common Units Buy Acquire P No No 9.22 5,000 46.1K 15,000
30 Dec 21 Bryan H Lawrence Common Units Sale back to company Dispose D Yes No 10.55 413,223 4.36M 427,734
3 Nov 21 Vermylen Paul A Jr Common Units Other Acquire J Yes No 0 8,239 0 852,619
3 Nov 21 Vermylen Paul A Jr Common Units Other Acquire J Yes No 0 8,239 0 218,520
3 Nov 21 Vermylen Paul A Jr Common Units Other Acquire J No No 0 24,844 0 274,844
3.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 18 18
Opened positions 3 3
Closed positions 3 2 +50.0%
Increased positions 4 4
Reduced positions 5 4 +25.0%
13F shares Current Prev Q Change
Total value 14.37M 710.67M -98.0%
Total shares 1.33M 4.67M -71.6%
Total puts 0 0
Total calls 0 100 EXIT
Total put/call ratio
Largest owners Shares Value Change
CET Central Securities 550K $6.11M -8.3%
Kestrel Energy Partners 500K $5.2M 0.0%
Ubs Global Asset Management Americas 57.96K $643.37K -8.7%
State of Tennessee, Treasury Department 48.21K $535K 0.0%
California State Teachers Retirement System 31.84K $353K +4.8%
Monograph Wealth Advisors 30.11K $334K 0.0%
GS Goldman Sachs 28.46K $316K +15.5%
Parametric Portfolio Associates 19.61K $218K NEW
NTRS Northern Trust 17.1K $190K -2.4%
AMP Ameriprise Financial 14K $155K +9.4%
Largest transactions Shares Bought/sold Change
Bandera Partners 0 -3.31M EXIT
CET Central Securities 550K -50K -8.3%
Parametric Portfolio Associates 19.61K +19.61K NEW
Cary Street Partner Investment Advisory 12.45K +12.45K NEW
Advisory Services Network 0 -10.41K EXIT
Ubs Global Asset Management Americas 57.96K -5.5K -8.7%
Simplex Trading 4.19K +4.17K +34775.0%
GS Goldman Sachs 28.46K +3.82K +15.5%
JPM JPMorgan Chase & Co. 2.45K -3.13K -56.1%
California State Teachers Retirement System 31.84K +1.46K +4.8%

Financial report summary

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Risks
  • The COVID-19 pandemic has caused disruptions to our operations and has impacted our business and may continue to impact our business and operations in numerous ways that remain unpredictable.
  • Mandatory COVID-19 vaccination of employees could impact our workforce and have a material adverse effect on our business and results of operations.
  • Our operating results will be adversely affected if we continue to experience significant net customer attrition in our home heating oil and propane customer base.
  • Because of the highly competitive nature of our business, we may not be able to retain existing customers or acquire new customers, which would have an adverse impact on our business, operating results and financial condition.
  • Our operating results will be adversely affected if we experience significant net customer attrition from natural gas conversions.
  • If we do not make acquisitions on economically acceptable terms, our future growth will be limited.
  • Since weather conditions may adversely affect the demand for home heating oil and propane, our business, operating results and financial condition are vulnerable to warm winters.
  • Our operating results are subject to seasonal fluctuations.
  • High product prices can lead to customer conservation and attrition, resulting in reduced demand for our products.
  • Increases in wholesale product costs may have adverse effects on our business, financial condition, results of operations, or liquidity.
  • Our hedging strategy may adversely affect our liquidity.
  • Sudden and sharp oil price increases that cannot be passed on to customers may adversely affect our operating results.
  • Significant declines in the wholesale price of home heating oil may cause price-protected customers to renegotiate or terminate their arrangements which may adversely impact our gross profit and operating results.
  • A significant portion of our home heating oil volume is sold to price-protected customers (ceiling and fixed) and our gross margins could be adversely affected if we are not able to effectively hedge against fluctuations in the volume and cost of product sold to these customers.
  • Our risk management policies cannot eliminate all commodity risk, basis risk, or the impact of adverse market conditions which can adversely affect our financial condition, results of operations and cash available for distribution to our unitholders. In addition, any noncompliance with our risk management policies could result in significant financial losses.
  • Our obligation to fund multi-employer pension plans to which we contribute may have an adverse impact on us.
  • We rely on the continued solvency of our derivatives, insurance and weather hedge counterparties.
  • We are subject to operating and litigation risks that could adversely affect our operating results whether or not covered by insurance.
  • Our captive insurance company may not bring the benefits we expect.
  • Our results of operations and financial condition may be adversely affected by governmental regulation and associated environmental and regulatory costs.
  • Our operations would be adversely affected if service at our third-party terminals or on the common carrier pipelines used is interrupted.
  • We depend on the use of information technology systems that have been and may in the future be a target of cyber-attacks.
  • Conflicts of interest have arisen and could arise in the future.
  • Our inability to identify qualified individuals for our workforce could slow our growth and adversely impact our ability to operate our business
  • A substantial portion of our workforce is unionized, and we may face labor actions that could disrupt our operations or lead to higher labor costs and adversely affect our business.
  • Cash distributions (if any) are not guaranteed and may fluctuate with performance and reserve requirements.
  • If we fail to maintain an effective system of internal controls, then we may not be able to accurately report our financial results or prevent fraud. As a result, current and potential unitholders could lose confidence in our financial reporting, which would harm our business and the trading price of our common units.
  • Our substantial debt and other financial obligations could impair our financial condition and our ability to obtain additional financing and have a material adverse effect on us if we fail to meet our financial and other obligations.
  • We are not required to accumulate cash for the purpose of meeting our future obligations to our lenders, which may limit the cash available to service the final payment due on the term loan outstanding under our Credit Agreement.
  • Under our Credit Agreement, the occurrence of a “change of control” is considered a default. We may be unable to repay borrowings under our Credit Agreement if the indebtedness outstanding thereunder is accelerated following a change of control.
  • Disruptions in our supply chain and other factors affecting the delivery of our products and services could adversely impact our business.
  • Continuing inflation may hurt our sales margins and profitability.
  • Energy efficiency and new technology may reduce the demand for our products and adversely affect our operating results.
  • Economic conditions could adversely affect our results of operations and financial condition.
  • The risk of global terrorism and political unrest may adversely affect the economy and the price and availability of the products that we sell and have a material adverse effect on our business, financial condition and results of operations.

Content analysis

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Legalese
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Readability
H.S. senior Avg
New words: coupled, enabled, referenced, SOFR
Removed: colder, covenant, eleven, rebounded