UGI Co. (NYSE:UGI) Holdings Raised by Credit Suisse AG

Posted by Defense World Staff on Jun 9th, 2023

Credit Suisse AG lifted its stake in shares of UGI Co. (NYSE:UGI – Get Rating) by 35.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,823 shares of the utilities provider’s stock after purchasing an additional 122,050 shares during the quarter. Credit Suisse AG owned about 0.22% of UGI worth $17,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of UGI. AdvisorNet Financial Inc raised its stake in shares of UGI by 71.0% during 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. BI Asset Management Fondsmaeglerselskab A S acquired a new position in UGI during the fourth quarter worth about $28,000. Concord Wealth Partners acquired a new position in UGI during the fourth quarter worth about $48,000. Concourse Financial Group Securities Inc. grew its holdings in UGI by 31.4% during the fourth quarter. Concourse Financial Group Securities Inc. now owns 1,488 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 356 shares during the period. Finally, Spire Wealth Management grew its holdings in UGI by 154.6% during the fourth quarter. Spire Wealth Management now owns 1,647 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 1,000 shares during the period. 80.93% of the stock is currently owned by institutional investors.

UGI Trading Down 0.3 %

Shares of UGI opened at $29.56 on Friday. The business’s 50-day moving average price is $31.34 and its 200 day moving average price is $35.74. The stock has a market capitalization of $6.19 billion, a P/E ratio of -10.09, a P/E/G ratio of 1.33 and a beta of 1.08. UGI Co. has a 1-year low of $27.00 and a 1-year high of $43.75. The company has a current ratio of 1.21, a quick ratio of 1.02 and a debt-to-equity ratio of 1.33.

UGI (NYSE:UGI – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.68 earnings per share 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 company 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 business posted $1.91 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts expect that UGI Co. will post 2.79 earnings per share for the current year.

UGI Increases Dividend

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

Insider Buying and Selling at UGI

In other UGI news, CEO Roger Perreault bought 3,565 shares of the stock in a transaction on Wednesday, May 24th. The shares were bought at an average price of $27.98 per share, with a total value of $99,748.70. Following the purchase, the chief executive officer now directly owns 41,125 shares in the company, valued at approximately $1,150,677.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on UGI. TheStreet lowered UGI from a “b-” rating to a “c+” rating in a report on Friday, March 10th. Barclays lowered their target price on UGI from $40.00 to $37.00 in a report on Tuesday, April 18th. StockNews.com began coverage on UGI in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Mizuho began coverage on UGI in a report on Wednesday, April 26th. They set a “neutral” rating and a $38.00 target price 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. According to data from MarketBeat.com, UGI has a consensus rating of “Hold” and an average target price of $39.50.

About UGI

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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.