Beaton Management Co. Inc. purchased a new position in shares of UGI Co. (NYSE:UGI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,500 shares of the utilities provider’s stock, valued at approximately $208,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of UGI. Cadence Bank NA boosted its position in shares of UGI by 2.0% during the 2nd quarter. Cadence Bank NA now owns 10,975 shares of the utilities provider’s stock valued at $508,000 after purchasing an additional 214 shares in the last quarter. Cigna Investments Inc. New raised its stake in UGI by 3.4% during the 1st quarter. Cigna Investments Inc. New now owns 7,431 shares of the utilities provider’s stock worth $305,000 after buying an additional 246 shares during the period. Edmp Inc. raised its stake in UGI by 0.4% during the 2nd quarter. Edmp Inc. now owns 71,826 shares of the utilities provider’s stock worth $3,326,000 after buying an additional 256 shares during the period. Bessemer Group Inc. raised its stake in UGI by 33.4% during the 1st quarter. Bessemer Group Inc. now owns 1,198 shares of the utilities provider’s stock worth $49,000 after buying an additional 300 shares during the period. Finally, Fifth Third Bancorp raised its stake in UGI by 37.7% during the 1st quarter. Fifth Third Bancorp now owns 1,110 shares of the utilities provider’s stock worth $46,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.
Several analysts have recently commented on the company. Bank of America raised UGI from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, June 23rd. Barclays increased their price objective on UGI from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 22nd. Finally, Zacks Investment Research raised UGI from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday, June 28th.
UGI (NYSE:UGI) last released its earnings results on Wednesday, August 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. UGI had a net margin of 13.33% and a return on equity of 14.51%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $0.08 earnings per share. The business’s revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts expect that UGI Co. will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.38 dividend on an annualized basis and a yield of 3.17%. UGI’s payout ratio is currently 51.69%.
UGI Company Profile
UGI Corp. operates as a holding company that engages in the distribution, storage, transport, and marketing of energy products and services. It operates through the following segments: AmeriGas Propane; UGI International; Midstream and Marketing; and UGI Utilities. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P.
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