image

USA Report - New York Tri-State Edition

Presented by

Discovery Reports

Steady acquisitions, long-term deals fuel Star Gas expansion

PUBLISHED : Tuesday, 20 October, 2015, 4:56pm
UPDATED : Wednesday, 23 March, 2016, 5:09pm

Today's energy market may be a hotbed of volatile crude oil prices, but for income-seeking investors looking for stable dividends, energy distributor Star Gas Partners is a strong stock preference. One of the largest retail distributors of natural gas in the United States and the nation's biggest home heating oil distributor, Star Gas has grown in earnings by 35 per cent on average for the past five years - proving its potential for continued long-term growth.

"We're a company that grows by acquisition, and we look for strong brands," says Steve Goldman, president and CEO. "As a relatively conservative business operating for over a hundred years, we favour balanced long-term investments."

Star Gas is a full-service energy provider operating throughout the northeast and Mid-Atlantic US specialising in the sale of home heating products and services to residential and commercial customers. A publicly traded master limited partnership listed on the New York Stock Exchange, it is the parent company of 46 brands. Star Gas' most successful brand is Petro, through which the company also provides a range of home services such as heating, air conditioning, plumbing and home security to customers.

The company highly values investing in lasting customer relationships, and attributes its success to a strong and diverse managerial team and committed workforce capable of responding to customer needs even in the most adverse weather conditions.

"We bring a level of service to the marketplace, which we believe no one else will offer," Goldman says. "Our size, servicing over half a million customers, gives us that advantage - but our dedication to providing standout service through our fantastic employees is our real strength." 

As part of its long-term business strategy, Star Gas looks towards increasing its sales in propane - the company's fastest-growing segment through which it aims to expand its geographical footprint. Focused on its expansion into the southern US, Star Gas is also open to opportunities for local partnerships and acquisitions within Asia.

 

Star Gas Partners: http://www.star-gas.com