Eagle Harbor Asset Management Inc. ADV Acquires New Shares in UGI Corporation $UGI

Eagle Harbor Asset Management Inc. ADV purchased a new stake in shares of UGI Corporation (NYSE:UGI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,248 shares of the utilities provider’s stock, valued at approximately $473,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in shares of UGI by 80.1% during the second quarter. Parkside Financial Bank & Trust now owns 724 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 322 shares during the period. Aberdeen Wealth Management LLC bought a new position in shares of UGI during the second quarter worth approximately $42,000. TD Waterhouse Canada Inc. acquired a new stake in UGI during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc lifted its holdings in 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in UGI during the 2nd quarter worth approximately $53,000. 82.34% of the stock is owned by institutional investors.

UGI Stock Up 1.3%

UGI stock opened at $38.56 on Wednesday. The company has a market cap of $8.27 billion, a PE ratio of 12.90 and a beta of 0.93. The business has a 50-day simple moving average of $37.41 and a 200 day simple moving average of $36.20. UGI Corporation has a 52 week low of $31.65 and a 52 week high of $41.34. The company has a quick ratio of 1.22, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.

UGI (NYSE:UGI) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.50 billion. UGI had a return on equity of 12.80% and a net margin of 9.20%. Sell-side analysts anticipate that UGI Corporation will post 2.81 EPS for the current fiscal year.

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 15th. UGI’s dividend payout ratio is 50.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on UGI shares. 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. Scotiabank started coverage on shares of UGI in a research note on Tuesday, September 29th. They issued an “outperform” rating and a $46.00 price objective for the company. Huntington started coverage on shares of UGI in a report on Monday, September 14th. They issued an “outperform” rating and a $54.00 price objective for the company. Wall Street Zen raised shares of UGI from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Jefferies Financial Group upgraded shares of UGI from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $43.00 in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

UGI Profile

UGI Corporation is a diversified energy company headquartered in King of Prussia, Pennsylvania. Founded in 1882 as the United Gas Improvement Company, it has developed into an operator and distributor of energy businesses serving residential, commercial, industrial and institutional customers.

Through UGI Utilities, the company distributes natural gas and provides electric utility service in parts of Pennsylvania. Its other operations include natural gas marketing, midstream services and energy-related activities in the United States, along with propane distribution through AmeriGas and liquefied petroleum gas distribution in Europe through UGI International.

UGI’s businesses serve customers across the United States and selected European markets.