Public Employees Retirement System of Ohio cut its stake in UGI Corp (NYSE:UGI) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,462 shares of the utilities provider’s stock after selling 11,216 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.07% of UGI worth $6,968,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in UGI. Commonwealth Bank of Australia boosted its stake in UGI by 325.9% in the 1st quarter. Commonwealth Bank of Australia now owns 2,729,515 shares of the utilities provider’s stock worth $151,254,000 after purchasing an additional 2,088,607 shares during the period. First Trust Advisors LP raised its stake in shares of UGI by 278.5% during the second quarter. First Trust Advisors LP now owns 951,669 shares of the utilities provider’s stock worth $50,829,000 after acquiring an additional 700,265 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of UGI by 30.4% during the second quarter. Prudential Financial Inc. now owns 2,635,177 shares of the utilities provider’s stock worth $140,745,000 after acquiring an additional 613,844 shares in the last quarter. FMR LLC lifted its holdings in shares of UGI by 104.4% in the 1st quarter. FMR LLC now owns 765,956 shares of the utilities provider’s stock worth $42,450,000 after acquiring an additional 391,178 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of UGI by 33.6% in the 1st quarter. JPMorgan Chase & Co. now owns 769,354 shares of the utilities provider’s stock worth $42,638,000 after acquiring an additional 193,513 shares during the last quarter. Institutional investors own 84.80% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Barclays reaffirmed a “sell” rating and issued a $52.00 price objective on shares of UGI in a research note on Thursday, July 18th. UBS Group set a $63.00 target price on shares of UGI and gave the stock a “buy” rating in a research report on Friday, July 19th. TheStreet downgraded shares of UGI from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Finally, ValuEngine lowered shares of UGI from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. UGI presently has an average rating of “Hold” and an average price target of $58.25.
UGI (NYSE:UGI) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.07). UGI had a return on equity of 10.56% and a net margin of 4.46%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, equities analysts expect that UGI Corp will post 2.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 9th will be issued a $0.325 dividend. This is a boost from UGI’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.30 annualized dividend and a dividend yield of 2.65%. UGI’s dividend payout ratio (DPR) is currently 47.45%.
In related news, Director M Shawn Bort sold 25,500 shares of UGI stock in a transaction on Friday, June 14th. The shares were sold at an average price of $52.97, for a total value of $1,350,735.00. Following the transaction, the director now directly owns 27,095 shares of the company’s stock, valued at $1,435,222.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.
UGI Company Profile
UGI Corporation 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 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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