SG Americas Securities LLC grew its holdings in UGI Corp (NYSE:UGI) by 344.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 27,889 shares of the utilities provider’s stock after buying an additional 21,617 shares during the quarter. SG Americas Securities LLC’s holdings in UGI were worth $887,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in UGI. First Eagle Investment Management LLC lifted its position in shares of UGI by 65.4% during the 1st quarter. First Eagle Investment Management LLC now owns 7,341,722 shares of the utilities provider’s stock worth $195,804,000 after purchasing an additional 2,903,987 shares during the last quarter. APG Asset Management N.V. lifted its position in UGI by 119.6% in the first quarter. APG Asset Management N.V. now owns 3,042,755 shares of the utilities provider’s stock valued at $150,180,000 after acquiring an additional 1,656,874 shares during the last quarter. Norges Bank purchased a new stake in UGI in the fourth quarter valued at $58,617,000. State of Michigan Retirement System lifted its position in UGI by 51.2% in the first quarter. State of Michigan Retirement System now owns 3,118,000 shares of the utilities provider’s stock valued at $83,157,000 after acquiring an additional 1,056,500 shares during the last quarter. Finally, State Street Corp lifted its position in UGI by 8.9% in the first quarter. State Street Corp now owns 12,545,470 shares of the utilities provider’s stock valued at $338,585,000 after acquiring an additional 1,026,777 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.
In other news, CEO John L. Walsh purchased 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $29.80 per share, for a total transaction of $238,400.00. Also, CFO Thaddeus J. Jastrzebski purchased 7,650 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $32.29 per share, for a total transaction of $247,018.50. The disclosure for this purchase can be found here. Insiders own 0.70% of the company’s stock.
UGI (NYSE:UGI) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.04. UGI had a net margin of 5.69% and a return on equity of 13.36%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business’s revenue was down 14.5% compared to the same quarter last year. As a group, research analysts forecast that UGI Corp will post 2.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, September 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.96%. UGI’s dividend payout ratio (DPR) is 57.89%.
A number of brokerages recently weighed in on UGI. Barclays raised shares of UGI from an “underweight” rating to an “equal weight” rating and set a $37.00 price target for the company in a research report on Thursday, July 16th. UBS Group reduced their price target on shares of UGI from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Jefferies Financial Group reduced their price target on shares of UGI from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Finally, Zacks Investment Research cut shares of UGI from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $37.75.
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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