Public Employees Retirement System of Ohio increased its stake in UGI Corp (NYSE:UGI) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,444 shares of the utilities provider’s stock after purchasing an additional 10,982 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of UGI worth $7,110,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System raised its stake in UGI by 20.0% during the 3rd quarter. California State Teachers Retirement System now owns 337,666 shares of the utilities provider’s stock valued at $16,974,000 after buying an additional 56,184 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in UGI by 24.3% in the third quarter. Pictet Asset Management Ltd. now owns 80,521 shares of the utilities provider’s stock worth $4,048,000 after purchasing an additional 15,754 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of UGI during the 3rd quarter valued at about $1,872,000. Stifel Financial Corp increased its position in shares of UGI by 386.0% during the 3rd quarter. Stifel Financial Corp now owns 112,435 shares of the utilities provider’s stock valued at $5,658,000 after purchasing an additional 89,302 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC increased its position in shares of UGI by 107.8% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 21,815 shares of the utilities provider’s stock valued at $1,097,000 after purchasing an additional 11,315 shares during the last quarter. Institutional investors own 91.10% of the company’s stock.
A number of equities analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of UGI from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. ValuEngine raised shares of UGI from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. TheStreet downgraded shares of UGI from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Finally, Barclays reiterated a “sell” rating and issued a $50.00 price target on shares of UGI in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. UGI currently has a consensus rating of “Buy” and an average price target of $56.50.
UGI (NYSE:UGI) last issued its quarterly earnings results on Monday, November 11th. The utilities provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). UGI had a return on equity of 8.83% and a net margin of 3.50%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $2.74 EPS. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that UGI Corp will post 2.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 16th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, December 13th. UGI’s dividend payout ratio is 57.02%.
In other UGI news, Director Frank S. Hermance purchased 93,731 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $42.48 per share, for a total transaction of $3,981,692.88. Following the purchase, the director now owns 343,731 shares of the company’s stock, valued at approximately $14,601,692.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Roger Perreault purchased 2,357 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $42.45 per share, for a total transaction of $100,054.65. Following the completion of the acquisition, the executive vice president now owns 25,481 shares of the company’s stock, valued at $1,081,668.45. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company insiders.
UGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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