Econ Financial Services Corp Reduces Stake in UGI Co. (NYSE:UGI)

Econ Financial Services Corp cut its stake in shares of UGI Co. (NYSE:UGI) by 43.2% during the first quarter, HoldingsChannel reports. The firm owned 27,011 shares of the utilities provider’s stock after selling 20,513 shares during the quarter. Econ Financial Services Corp’s holdings in UGI were worth $663,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. American National Bank bought a new position in shares of UGI during the 1st quarter valued at approximately $27,000. Concord Wealth Partners boosted its stake in UGI by 100.0% during the first quarter. Concord Wealth Partners now owns 1,274 shares of the utilities provider’s stock worth $31,000 after buying an additional 637 shares during the period. GAMMA Investing LLC bought a new position in UGI during the fourth quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in shares of UGI in the fourth quarter valued at $39,000. Finally, Neo Ivy Capital Management bought a new stake in shares of UGI in the 4th quarter worth about $40,000. 82.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of UGI from a “hold” rating to a “buy” rating in a report on Wednesday, July 10th. Mizuho boosted their target price on UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company reduced their price target on UGI from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 3rd.

UGI Trading Up 0.3 %

Shares of NYSE UGI traded up $0.08 during mid-day trading on Monday, reaching $24.72. The company had a trading volume of 1,140,756 shares, compared to its average volume of 2,261,011. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of -60.29 and a beta of 1.13. UGI Co. has a 52 week low of $20.19 and a 52 week high of $27.23. The business’s 50-day moving average is $23.53 and its 200-day moving average is $24.00. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 1.44.

UGI (NYSE:UGI) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.32. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $3.07 billion. UGI had a negative net margin of 0.89% and a positive return on equity of 15.78%. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 EPS. Equities analysts expect that UGI Co. will post 2.92 earnings per share for the current year.

UGI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.50 annualized dividend and a yield of 6.07%. UGI’s payout ratio is currently -365.84%.

UGI Profile

UGI Corporation, together with its subsidiaries, 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 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.