UGI Co. (NYSE:UGI) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Posted by on May 6th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in UGI Co. (NYSE:UGI – Get Rating) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,402 shares of the utilities provider’s stock after buying an additional 11,947 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in UGI were worth $2,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AdvisorNet Financial Inc grew its holdings in shares of UGI by 71.0% in the fourth quarter. AdvisorNet Financial Inc now owns 730 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 303 shares in the last quarter. Concord Wealth Partners purchased a new stake in UGI during the 4th quarter worth approximately $48,000. Concourse Financial Group Securities Inc. increased its stake in UGI by 31.4% during the 4th quarter. Concourse Financial Group Securities Inc. now owns 1,488 shares of the utilities provider’s stock worth $56,000 after buying an additional 356 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in UGI during the 3rd quarter worth approximately $50,000. Finally, Spire Wealth Management increased its stake in UGI by 154.6% during the 4th quarter. Spire Wealth Management now owns 1,647 shares of the utilities provider’s stock worth $61,000 after buying an additional 1,000 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

UGI Trading Up 2.7 %

Shares of NYSE:UGI opened at $30.50 on Friday. UGI Co. has a 52 week low of $29.61 and a 52 week high of $44.54. The company’s 50 day moving average is $34.84 and its two-hundred day moving average is $36.89. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26. The company has a market cap of $6.39 billion, a PE ratio of -10.41, a P/E/G ratio of 1.33 and a beta of 1.08.

UGI (NYSE:UGI – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.16). UGI had a negative net margin of 6.17% and a positive return on equity of 11.10%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Equities analysts predict that UGI Co. will post 2.8 earnings per share for the current fiscal year.

UGI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Thursday, June 15th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.92%. This is an increase from UGI’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, June 14th. UGI’s dividend payout ratio (DPR) is -49.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of UGI from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. Barclays cut their target price on shares of UGI from $40.00 to $37.00 in a research note on Tuesday, April 18th. TheStreet downgraded shares of UGI from a “b-” rating to a “c+” rating in a research note on Friday, March 10th. Mizuho began coverage on shares of UGI in a research note on Wednesday, April 26th. They set a “neutral” rating and a $38.00 target price on the stock. Finally, StockNews.com began coverage on shares of UGI in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.50.

UGI Company Profile

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UGI Corp. is a holding company, which engages in the distribution and marketing of energy products and services. It operates through the following segments: AmeriGas Propane, UGI International, Midstream and Marketing, and Utilities. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P.

See Also

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Institutional Ownership by Quarter for UGI (NYSE:UGI)

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