CIBC Asset Management Inc boosted its stake in shares of UGI Corp (NYSE:UGI) by 37.5% in the 1st quarter, HoldingsChannel reports. The fund owned 8,472 shares of the utilities provider’s stock after buying an additional 2,312 shares during the period. CIBC Asset Management Inc’s holdings in UGI were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc raised its position in UGI by 1.3% during the third quarter. Vanguard Group Inc now owns 17,941,400 shares of the utilities provider’s stock valued at $995,389,000 after acquiring an additional 232,308 shares in the last quarter. BlackRock Inc. grew its holdings in UGI by 1.8% in the fourth quarter. BlackRock Inc. now owns 17,414,409 shares of the utilities provider’s stock valued at $929,060,000 after purchasing an additional 304,579 shares during the period. Deutsche Bank AG grew its holdings in UGI by 2.6% in the fourth quarter. Deutsche Bank AG now owns 7,223,884 shares of the utilities provider’s stock valued at $385,390,000 after purchasing an additional 182,204 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in UGI by 5,235.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,630,734 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 3,562,679 shares during the period. Finally, APG Asset Management N.V. grew its holdings in UGI by 195.6% in the fourth quarter. APG Asset Management N.V. now owns 2,555,155 shares of the utilities provider’s stock valued at $119,247,000 after purchasing an additional 1,690,800 shares during the period. Institutional investors own 81.38% of the company’s stock.
Shares of UGI opened at $53.24 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.99. UGI Corp has a 12 month low of $48.17 and a 12 month high of $59.31. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.70 and a beta of 0.60.
UGI (NYSE:UGI) last issued its quarterly earnings results on Monday, May 6th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.56 by ($0.13). The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. UGI had a return on equity of 10.31% and a net margin of 5.14%. Research analysts anticipate that UGI Corp will post 2.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, June 13th. This is a positive change from UGI’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%. UGI’s payout ratio is currently 37.96%.
UGI has been the topic of several research analyst reports. Bank of America raised UGI from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, April 3rd. They noted that the move was a valuation call. UBS Group raised UGI from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, February 25th. ValuEngine raised UGI from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Jefferies Financial Group raised UGI from a “hold” rating to a “buy” rating and raised their price objective for the company from $54.00 to $60.00 in a report on Friday, April 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised UGI from a “sell” rating to a “hold” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.00.
In other news, Director Frank S. Hermance purchased 100,000 shares of the stock in a transaction dated Friday, May 10th. The shares were purchased at an average cost of $54.10 per share, with a total value of $5,410,000.00. Following the completion of the purchase, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $13,525,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John L. Walsh sold 50,000 shares of UGI stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.19, for a total value of $2,709,500.00. Following the completion of the sale, the chief executive officer now directly owns 502,226 shares in the company, valued at $27,215,626.94. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
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UGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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