Ieq Capital LLC acquired a new position in UGI Corporation (NYSE:UGI – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 29,820 shares of the utilities provider’s stock, valued at approximately $1,030,000.
A number of other institutional investors and hedge funds have also bought and sold shares of UGI. Captrust Financial Advisors raised its position in UGI by 34,940.4% during the 2nd quarter. Captrust Financial Advisors now owns 2,576,169 shares of the utilities provider’s stock worth $93,824,000 after purchasing an additional 2,568,817 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of UGI by 75.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,335,508 shares of the utilities provider’s stock valued at $46,130,000 after buying an additional 575,239 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of UGI by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 930,787 shares of the utilities provider’s stock valued at $30,781,000 after buying an additional 116,372 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of UGI by 17.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 785,327 shares of the utilities provider’s stock valued at $25,971,000 after buying an additional 115,409 shares during the period. Finally, NewEdge Wealth LLC bought a new position in shares of UGI during the second quarter worth about $3,537,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at UGI
In related news, insider Kathleen Shea-Ballay sold 25,360 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $33.62, for a total transaction of $852,603.20. Following the transaction, the insider owned 25,360 shares in the company, valued at $852,603.20. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.
UGI Stock Up 0.4%
UGI (NYSE:UGI – Get Free Report) last released its earnings results on Thursday, August 6th. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.50 billion. UGI had a return on equity of 12.80% and a net margin of 9.20%. Equities research analysts predict that UGI Corporation will post 2.85 earnings per share for the current year.
UGI Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.375 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.50 annualized dividend and a dividend yield of 3.9%. UGI’s payout ratio is currently 50.17%.
Analyst Upgrades and Downgrades
UGI has been the topic of a number of recent analyst reports. Weiss Ratings lowered UGI from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Zacks Research lowered shares of UGI from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price target (down from $45.00) on shares of UGI in a research report on Thursday, April 30th. Wells Fargo & Company reduced their price objective on shares of UGI from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of UGI from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, UGI currently has an average rating of “Hold” and a consensus target price of $42.00.
Get Our Latest Research Report on UGI
UGI Profile
UGI Corporation (NYSE: UGI) is a publicly traded energy distribution company headquartered in King of Prussia, Pennsylvania. Founded in 1882 as the United Gas Improvement Company, UGI has grown into a diversified provider of energy products and services. The company’s operations are organized into three primary segments—AmeriGas Propane, UGI Utilities and UGI International—each focused on the delivery of propane, natural gas and related services to residential, commercial and industrial customers.
AmeriGas Propane, UGI’s largest segment, is the leading retail propane distributor in the United States with a network of dealers serving customers in all 50 states.
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