NewEdge Wealth LLC Acquires New Holdings in UGI Corporation $UGI

NewEdge Wealth LLC bought a new position in shares of UGI Corporation (NYSE:UGI – Free Report) during the second quarter, Holdings Channel reports. The fund bought 102,396 shares of the utilities provider’s stock, valued at approximately $3,537,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in UGI by 45.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,268 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 397 shares during the period. Torren Management LLC bought a new position in UGI in the 4th quarter worth about $65,000. Persistent Asset Partners Ltd purchased a new stake in shares of UGI in the 2nd quarter valued at about $71,000. State of Wyoming purchased a new stake in shares of UGI in the 2nd quarter valued at about $71,000. Finally, Colonial Trust Co SC bought a new stake in shares of UGI during the 4th quarter valued at about $75,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, insider Kathleen Shea-Ballay sold 25,360 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $33.62, for a total transaction of $852,603.20. Following the completion of the transaction, the insider directly owned 25,360 shares of the company’s stock, valued at approximately $852,603.20. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on UGI. Zacks Research cut UGI from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings cut shares of UGI from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company decreased their price target 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. Wall Street Zen lowered shares of UGI from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price objective (down from $45.00) on shares of UGI in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.00.

Read Our Latest Stock Report on UGI

UGI Stock Performance

NYSE:UGI opened at $37.92 on Friday. 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 Corporation has a fifty-two week low of $31.62 and a fifty-two week high of $41.34. The firm has a market cap of $8.13 billion, a PE ratio of 12.68 and a beta of 0.93. The business has a 50 day moving average price of $35.63 and a 200-day moving average price of $36.14.

UGI (NYSE:UGI – Get Free Report) last issued 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). UGI had a return on equity of 12.80% and a net margin of 9.20%.The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Equities research analysts predict that UGI Corporation will post 2.85 earnings per share for the current year.

UGI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.375 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.0%. UGI’s payout ratio is presently 50.17%.

UGI Profile

(Free Report)

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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