KAMES CAPITAL plc Purchases New Stake in UGI Corp (UGI)

KAMES CAPITAL plc purchased a new position in shares of UGI Corp (NYSE:UGI) during the third quarter, HoldingsChannel.com reports. The fund purchased 19,255 shares of the utilities provider’s stock, valued at approximately $1,068,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hennessy Advisors Inc. lifted its position in UGI by 199.4% in the 3rd quarter. Hennessy Advisors Inc. now owns 759,752 shares of the utilities provider’s stock valued at $42,151,000 after acquiring an additional 506,000 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in UGI in the 1st quarter valued at $15,662,000. Renaissance Technologies LLC lifted its position in UGI by 17.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,224,650 shares of the utilities provider’s stock valued at $115,838,000 after acquiring an additional 335,000 shares in the last quarter. Allianz Asset Management GmbH lifted its position in UGI by 754.7% in the 1st quarter. Allianz Asset Management GmbH now owns 358,643 shares of the utilities provider’s stock valued at $15,931,000 after acquiring an additional 316,683 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in UGI in the 2nd quarter valued at $14,289,000. 78.66% of the stock is currently owned by institutional investors.

UGI opened at $53.39 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.97. UGI Corp has a 12 month low of $42.51 and a 12 month high of $56.00. The firm has a market capitalization of $9.65 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.50 and a beta of 0.50.

UGI (NYSE:UGI) last issued its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). UGI had a return on equity of 11.89% and a net margin of 11.09%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts forecast that UGI Corp will post 2.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.04 annualized dividend and a yield of 1.95%. UGI’s dividend payout ratio (DPR) is presently 45.41%.

In other UGI news, insider Joseph L. Hartz sold 18,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $55.51, for a total transaction of $999,180.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.36% of the company’s stock.

UGI has been the topic of several research reports. Bank of America boosted their price objective on shares of UGI from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. ValuEngine raised shares of UGI from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of UGI from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $54.00 price objective on shares of UGI in a research report on Friday, August 17th. Finally, Barclays boosted their price objective on shares of UGI from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. UGI has an average rating of “Hold” and a consensus price target of $52.20.

UGI Company Profile

UGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. It distributes propane to approximately 1.9 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers in 50 states through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems.

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Institutional Ownership by Quarter for UGI (NYSE:UGI)

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