Commerce Bank purchased a new stake in UGI Corporation (NYSE:UGI – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,923 shares of the utilities provider’s stock, valued at approximately $585,000.
Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc grew its stake in shares of UGI by 45.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,268 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 397 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of UGI during the 2nd quarter valued at approximately $53,000. Torren Management LLC acquired a new position in shares of UGI in the 4th quarter valued at $65,000. State of Wyoming acquired a new position in shares of UGI in the 2nd quarter valued at $71,000. Finally, Persistent Asset Partners Ltd purchased a new stake in UGI during the second quarter worth $71,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
UGI Trading Down 0.4%
Shares of UGI stock opened at $38.28 on Friday. UGI Corporation has a 1-year low of $31.62 and a 1-year high of $41.34. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 12.80 and a beta of 0.93. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.22. The stock has a 50 day simple moving average of $36.03 and a 200-day simple moving average of $36.11.
UGI Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. UGI’s dividend payout ratio (DPR) is presently 50.17%.
Insider Activity at UGI
In other news, insider Kathleen Shea-Ballay sold 25,360 shares of the business’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 sale, the insider owned 25,360 shares of the company’s stock, valued at $852,603.20. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
UGI has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of UGI from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price objective (down from $45.00) on shares of UGI in a research report on Thursday, April 30th. Weiss Ratings lowered shares of UGI from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Zacks Research cut UGI from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Wall Street Zen lowered UGI from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.00.
Get Our Latest Analysis on UGI
UGI Company 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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