Bank of New York Mellon Corp reduced its stake in shares of UGI Corp (NYSE:UGI) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,145,182 shares of the utilities provider’s stock after selling 20,122 shares during the period. Bank of New York Mellon Corp’s holdings in UGI were worth $100,716,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. APG Asset Management N.V. grew its position in shares of 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 acquiring an additional 709,500 shares during the period. Prudential Financial Inc. grew its position in shares of UGI by 12.2% during the 3rd quarter. Prudential Financial Inc. now owns 2,224,667 shares of the utilities provider’s stock valued at $104,248,000 after acquiring an additional 241,470 shares during the period. Wedge Capital Management L L P NC grew its position in shares of UGI by 3.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 1,877,522 shares of the utilities provider’s stock valued at $88,150,000 after acquiring an additional 58,173 shares during the period. Wells Fargo & Company MN grew its position in shares of UGI by 0.8% during the 4th quarter. Wells Fargo & Company MN now owns 972,176 shares of the utilities provider’s stock valued at $45,644,000 after acquiring an additional 8,069 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of UGI by 8.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 528,435 shares of the utilities provider’s stock valued at $24,762,000 after acquiring an additional 42,601 shares during the period. 77.44% of the stock is owned by hedge funds and other institutional investors.
In other UGI news, insider Roger Perreault acquired 2,270 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average cost of $43.97 per share, with a total value of $99,811.90. Following the acquisition, the insider now owns 21,049 shares in the company, valued at $925,524.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.36% of the stock is currently owned by company insiders.
UGI (NYSE:UGI) last released its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.87 billion. UGI had a net margin of 8.71% and a return on equity of 10.88%. UGI’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. analysts predict that UGI Corp will post 2.62 earnings per share for the current year.
The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 2.32%. The ex-dividend date is Wednesday, March 14th. UGI’s dividend payout ratio (DPR) is presently 43.67%.
UGI has been the subject of several analyst reports. Zacks Investment Research raised shares of UGI from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Saturday, January 13th. Barclays cut their price objective on shares of UGI from $48.00 to $47.00 and set an “underweight” rating for the company in a report on Friday, November 10th. Finally, Bank of America reaffirmed a “buy” rating on shares of UGI in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.33.
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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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