JPMorgan Chase & Co. lowered its position in UGI Co. (NYSE:UGI – Get Rating) by 19.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 798,017 shares of the utilities provider’s stock after selling 195,586 shares during the period. JPMorgan Chase & Co.’s holdings in UGI were worth $29,583,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of UGI by 5.0% in the third quarter. Vanguard Group Inc. now owns 24,130,520 shares of the utilities provider’s stock valued at $780,140,000 after buying an additional 1,141,345 shares during the last quarter. State Street Corp grew its position in UGI by 3.8% during the 1st quarter. State Street Corp now owns 14,424,002 shares of the utilities provider’s stock worth $527,249,000 after acquiring an additional 522,707 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in UGI by 2.3% during the fourth quarter. First Eagle Investment Management LLC now owns 8,669,087 shares of the utilities provider’s stock valued at $321,363,000 after purchasing an additional 197,906 shares during the period. LSV Asset Management grew its holdings in shares of UGI by 3.3% in the 4th quarter. LSV Asset Management now owns 3,843,115 shares of the utilities provider’s stock valued at $142,464,000 after acquiring an additional 123,715 shares in the last quarter. Finally, Edmp Inc. increased its stake in shares of UGI by 3,611.2% during the fourth quarter. Edmp Inc. now owns 3,049,082 shares of the utilities provider’s stock worth $82,252,000 after purchasing an additional 2,966,923 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Analysts Set New Price Targets
UGI has been the topic of a number of research analyst reports. Mizuho assumed coverage on shares of UGI in a research report on Wednesday, April 26th. They set a “neutral” rating and a $38.00 price objective on the stock. Barclays decreased their price target on UGI from $40.00 to $37.00 in a report on Tuesday, April 18th. StockNews.com assumed coverage on shares of UGI in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, TheStreet downgraded shares of UGI from a “b-” rating to a “c+” rating in a research report on Friday, March 10th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.50.
UGI Stock Down 0.6 %
UGI (NYSE:UGI – Get Rating) last released its earnings results 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 11.38%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company earned $1.91 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that UGI Co. will post 2.79 EPS for the current year.
UGI Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 15th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 5.11%. This is a boost 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 presently -49.15%.
Insider Activity
In other news, CEO Roger Perreault purchased 3,565 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $27.98 per share, with a total value of $99,748.70. Following the transaction, the chief executive officer now owns 41,125 shares in the company, valued at approximately $1,150,677.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.
UGI Profile
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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