Private Management Group Inc. increased its holdings in shares of UGI Corporation (NYSE:UGI – Free Report) by 4.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,104,312 shares of the utilities provider’s stock after acquiring an additional 46,424 shares during the period. UGI comprises 1.0% of Private Management Group Inc.’s portfolio, making the stock its 24th biggest position. Private Management Group Inc.’s holdings in UGI were worth $39,391,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of UGI. The Manufacturers Life Insurance Company bought a new position in UGI in the 2nd quarter valued at $73,069,000. Russell Investments Group Ltd. increased its stake in UGI by 75.7% in the second quarter. Russell Investments Group Ltd. now owns 1,335,508 shares of the utilities provider’s stock worth $46,130,000 after purchasing an additional 575,239 shares during the period. Legal & General Group Plc purchased a new stake in UGI in the second quarter worth $12,408,000. Ancora Advisors LLC purchased a new stake in UGI in the second quarter worth $11,308,000. Finally, Bank of Nova Scotia bought a new stake in shares of UGI during the second quarter worth $10,515,000. 82.34% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
UGI has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of UGI from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $43.00 in a research note on Wednesday, September 9th. Wells Fargo & Company cut their price target on shares of UGI from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Huntington began coverage on shares of UGI in a research note on Monday, September 14th. They issued an “outperform” rating and a $54.00 price target on the stock. Wall Street Zen lowered shares of UGI from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Scotiabank assumed coverage on shares of UGI in a report on Tuesday, September 29th. They set an “outperform” rating and a $46.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.80.
View Our Latest Analysis on UGI
UGI Trading Up 1.1%
NYSE:UGI opened at $37.45 on Tuesday. The firm has a 50-day simple moving average of $37.69 and a 200-day simple moving average of $36.72. UGI Corporation has a one year low of $31.65 and a one year high of $41.34. The firm has a market cap of $8.03 billion, a P/E ratio of 13.05 and a beta of 0.94. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.22 and a current ratio of 1.44.
UGI Profile
UGI Corporation is a diversified energy company based in King of Prussia, Pennsylvania. Its businesses distribute and market natural gas, propane and other energy products, and provide related services to residential, commercial and industrial customers.
In the United States, UGI operates regulated natural gas and electric utilities in Pennsylvania, supplies natural gas and electricity through its energy-marketing business, and owns energy-related infrastructure. Its propane operations include AmeriGas, which serves customers across the country.
UGI also distributes liquefied petroleum gas in Europe through UGI International.
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