Janney Montgomery Scott LLC Acquires 5,490 Shares of UGI Co. (NYSE:UGI)

Posted by Defense World Staff on Jul 23rd, 2023

Janney Montgomery Scott LLC grew its position in shares of UGI Co. (NYSE:UGI – Free Report) by 3.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 169,041 shares of the utilities provider’s stock after acquiring an additional 5,490 shares during the period. Janney Montgomery Scott LLC owned about 0.08% of UGI worth $5,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moors & Cabot Inc. lifted its holdings in shares of UGI by 3.7% during the 4th quarter. Moors & Cabot Inc. now owns 7,087 shares of the utilities provider’s stock valued at $325,000 after buying an additional 250 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of UGI by 71.0% during the 4th quarter. AdvisorNet Financial Inc now owns 730 shares of the utilities provider’s stock valued at $27,000 after buying an additional 303 shares during the period. Allstate Corp raised its holdings in UGI by 1.9% in the 1st quarter. Allstate Corp now owns 16,470 shares of the utilities provider’s stock worth $597,000 after purchasing an additional 313 shares during the period. Centennial Wealth Advisory LLC raised its holdings in UGI by 3.3% in the 1st quarter. Centennial Wealth Advisory LLC now owns 9,901 shares of the utilities provider’s stock worth $344,000 after purchasing an additional 320 shares during the period. Finally, Eaton Vance Management raised its holdings in UGI by 0.4% in the 1st quarter. Eaton Vance Management now owns 82,676 shares of the utilities provider’s stock worth $2,995,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays decreased their target price on UGI from $40.00 to $37.00 in a report on Tuesday, April 18th. Mizuho decreased their target price on UGI from $38.00 to $33.00 in a report on Wednesday, June 21st. Finally, StockNews.com cut UGI from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $38.25.

UGI Trading Up 0.3 %

Shares of UGI stock opened at $26.50 on Friday. UGI Co. has a 52-week low of $25.58 and a 52-week 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. The stock has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $33.31.

UGI (NYSE:UGI – Get Free Report) last issued its quarterly 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). The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. UGI had a positive return on equity of 11.38% and a negative net margin of 6.17%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.91 EPS. As a group, analysts forecast that UGI Co. will post 2.76 earnings per share for the current fiscal year.

UGI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Thursday, June 15th were given a dividend of $0.375 per share. This is a positive change from UGI’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, June 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.66%. UGI’s dividend payout ratio (DPR) is presently -51.19%.

Insider Activity

In other news, CEO Roger Perreault acquired 3,565 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was purchased at an average price of $27.98 per share, for a total transaction of $99,748.70. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

UGI Company Profile

(Free Report)

UGI Corporation, through its subsidiaries, 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 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.