The Manufacturers Life Insurance Company raised its stake in shares of UGI Corp (NYSE:UGI) by 12.6% in the fourth quarter, Holdings Channel reports. The firm owned 287,910 shares of the utilities provider’s stock after buying an additional 32,230 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in UGI were worth $13,517,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. APG Asset Management N.V. boosted its stake in UGI by 37.5% during the 4th quarter. APG Asset Management N.V. now owns 2,603,255 shares of the utilities provider’s stock valued at $101,784,000 after purchasing an additional 709,500 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of UGI by 12.2% in the 3rd quarter. Prudential Financial Inc. now owns 2,224,667 shares of the utilities provider’s stock worth $104,248,000 after buying an additional 241,470 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of UGI by 3.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 1,877,522 shares of the utilities provider’s stock worth $88,150,000 after buying an additional 58,173 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of UGI by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 972,176 shares of the utilities provider’s stock worth $45,644,000 after buying an additional 8,069 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of UGI by 8.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 528,435 shares of the utilities provider’s stock worth $24,762,000 after buying an additional 42,601 shares during the last quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.
UGI Corp (NYSE:UGI) opened at $43.40 on Wednesday. UGI Corp has a 12 month low of $42.51 and a 12 month high of $52.00. The firm has a market capitalization of $7,579.76, a P/E ratio of 18.33 and a beta of 0.58. The company has a quick ratio of 0.85, a current ratio of 0.98 and a debt-to-equity ratio of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. UGI’s dividend payout ratio (DPR) is presently 30.96%.
A number of brokerages have recently weighed in on UGI. Barclays cut their target price on UGI from $48.00 to $47.00 and set an “underweight” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research upgraded UGI from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Bank of America restated a “buy” rating on shares of UGI in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. UGI has a consensus rating of “Hold” and a consensus price target of $48.33.
In related news, insider Roger Perreault purchased 2,270 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were bought at an average price of $43.97 per share, with a total value of $99,811.90. Following the acquisition, the insider now owns 21,049 shares of the company’s stock, valued at approximately $925,524.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.36% of the company’s stock.
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UGI Company Profile
UGI Corporation is a holding company. The Company distributes, stores, transports and markets energy products and related services. It operates through six segments. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P. The UGI France segment consists of the French LPG distribution business of its subsidiaries, Antargaz, Finagaz and its liquefied petroleum gases (LPG) distribution businesses.
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