UGI Co. (NYSE:UGI) Shares Sold by State Board of Administration of Florida Retirement System

Posted by on May 10th, 2023

State Board of Administration of Florida Retirement System lowered its holdings in UGI Co. (NYSE:UGI – Get Rating) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,861 shares of the utilities provider’s stock after selling 11,952 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of UGI worth $8,113,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its stake in shares of UGI by 71.0% during the 4th quarter. AdvisorNet Financial Inc now owns 730 shares of the utilities provider’s stock worth $27,000 after buying an additional 303 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of UGI during the 4th quarter worth $48,000. McClarren Financial Advisors Inc. acquired a new position in UGI in the 3rd quarter valued at about $50,000. Concourse Financial Group Securities Inc. raised its stake in UGI by 31.4% in the 4th quarter. Concourse Financial Group Securities Inc. now owns 1,488 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 356 shares during the last quarter. Finally, Spire Wealth Management raised its stake in UGI by 154.6% in the 4th quarter. Spire Wealth Management now owns 1,647 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

UGI Stock Down 1.7 %

UGI opened at $29.59 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.21 and a quick ratio of 1.02. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -10.10, a price-to-earnings-growth ratio of 1.35 and a beta of 1.08. The business has a 50-day moving average of $34.39 and a two-hundred day moving average of $36.88. UGI Co. has a 12 month low of $29.30 and a 12 month high of $44.54.

UGI (NYSE:UGI – Get Rating) last issued its earnings results on Wednesday, May 3rd. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.16). UGI had a positive return on equity of 11.38% and a negative net margin of 6.17%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm posted $1.91 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, research analysts expect that UGI Co. will post 2.8 earnings per share for the current year.

UGI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.07%. This is a boost from UGI’s previous quarterly dividend of $0.36. UGI’s payout ratio is presently -49.15%.

Wall Street Analyst Weigh In

UGI has been the subject of several analyst reports. StockNews.com initiated coverage on shares of UGI in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Mizuho initiated coverage on shares of UGI in a research note on Wednesday, April 26th. They issued a “neutral” rating and a $38.00 target price for the company. TheStreet downgraded shares of UGI from a “b-” rating to a “c+” rating in a research note on Friday, March 10th. Wells Fargo & Company boosted their target price on shares of UGI from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Finally, Barclays lowered their price target on UGI from $40.00 to $37.00 in a report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.50.

UGI 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.

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Institutional Ownership by Quarter for UGI (NYSE:UGI)

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