The Manufacturers Life Insurance Company bought a new position in UGI Corporation (NYSE:UGI – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,115,491 shares of the utilities provider’s stock, valued at approximately $73,069,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Captrust Financial Advisors boosted its position in shares of UGI by 34,940.4% during the 2nd quarter. Captrust Financial Advisors now owns 2,576,169 shares of the utilities provider’s stock valued at $93,824,000 after acquiring an additional 2,568,817 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of UGI by 75.7% during the second quarter. Russell Investments Group Ltd. now owns 1,335,508 shares of the utilities provider’s stock worth $46,130,000 after acquiring an additional 575,239 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of UGI during the second quarter worth approximately $10,515,000. Sanctuary Advisors LLC bought a new stake in shares of UGI in the 2nd quarter worth approximately $9,285,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of UGI by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 930,787 shares of the utilities provider’s stock valued at $30,781,000 after purchasing an additional 116,372 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at UGI
In related news, insider Kathleen Shea-Ballay sold 25,360 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider owned 25,360 shares of the company’s stock, valued at $852,603.20. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.
UGI Trading Up 0.5%
UGI (NYSE:UGI – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.50 billion. UGI had a return on equity of 12.80% and a net margin of 9.20%. As a group, equities analysts predict that UGI Corporation will post 2.85 earnings per share for the current fiscal year.
UGI Announces Dividend
The company also recently announced 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. This represents a $1.50 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 15th. UGI’s dividend payout ratio is currently 50.17%.
Wall Street Analyst Weigh In
Several analysts have weighed in on UGI shares. Wall Street Zen downgraded shares of UGI from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price objective (down from $45.00) on shares of UGI in a report on Thursday, April 30th. Weiss Ratings lowered shares of UGI from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of UGI from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company decreased their price objective on shares of UGI from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, UGI currently has a consensus rating of “Hold” and an average price target of $42.00.
View Our Latest Stock Analysis 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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