UGI (NYSE:UGI) Releases Earnings Results, Beats Estimates By $0.32 EPS

UGI (NYSE:UGI) released its quarterly earnings data on Wednesday. The utilities provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.32, Briefing.com reports. UGI had a negative net margin of 5.48% and a positive return on equity of 14.09%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the business earned $1.68 earnings per share. UGI’s revenue was down 20.6% compared to the same quarter last year. UGI updated its FY24 guidance to $2.70-3.00 EPS and its FY 2024 guidance to 2.700-3.000 EPS.

UGI Stock Performance

NYSE:UGI traded down $1.85 during mid-day trading on Thursday, reaching $24.04. The company’s stock had a trading volume of 3,986,090 shares, compared to its average volume of 2,068,230. UGI has a 12-month low of $20.19 and a 12-month high of $33.14. The firm’s fifty day moving average price is $24.63 and its two-hundred day moving average price is $23.45. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.59. The stock has a market cap of $5.04 billion, a P/E ratio of -10.78 and a beta of 1.13.

Analyst Upgrades and Downgrades

UGI has been the subject of a number of analyst reports. TheStreet upgraded shares of UGI from a “d+” rating to a “c-” rating in a research report on Wednesday, February 21st. Mizuho boosted their target price on shares of UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Wells Fargo & Company cut shares of UGI from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $27.00 to $28.00 in a report on Thursday, March 14th. Finally, StockNews.com cut shares of UGI from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th.

About UGI

UGI Corporation, together with 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.