Engineers Gate Manager LP acquired a new stake in shares of UGI Co. (NYSE:UGI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 42,733 shares of the utilities provider’s stock, valued at approximately $1,898,000.
Several other hedge funds and other institutional investors also recently modified their holdings of UGI. Westpac Banking Corp lifted its holdings in shares of UGI by 7.1% during the fourth quarter. Westpac Banking Corp now owns 87,090 shares of the utilities provider’s stock valued at $4,089,000 after acquiring an additional 5,745 shares during the period. State of Alaska Department of Revenue bought a new position in shares of UGI during the fourth quarter valued at $483,000. Reinhart Partners Inc. bought a new position in shares of UGI during the fourth quarter valued at $20,733,000. Mountain Pacific Investment Advisers Inc. ID lifted its holdings in shares of UGI by 39.6% during the fourth quarter. Mountain Pacific Investment Advisers Inc. ID now owns 316,795 shares of the utilities provider’s stock valued at $14,874,000 after acquiring an additional 89,810 shares during the period. Finally, Cerebellum GP LLC bought a new position in shares of UGI during the fourth quarter valued at $123,000. 78.87% of the stock is owned by institutional investors.
Shares of NYSE:UGI opened at $48.83 on Friday. UGI Co. has a twelve month low of $49.15 and a twelve month high of $49.56. The firm has a market capitalization of $8.49 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.22 and a quick ratio of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Stockholders of record on Friday, June 15th will be paid a $0.26 dividend. The ex-dividend date is Thursday, June 14th. This is a positive change from UGI’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.13%. UGI’s dividend payout ratio (DPR) is 43.67%.
UGI has been the subject of a number of analyst reports. Zacks Investment Research raised UGI from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Saturday, March 31st. Citigroup cut their price objective on UGI from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, March 27th. Bank of America reissued a “buy” rating on shares of UGI in a report on Tuesday, February 27th. Barclays reissued a “sell” rating and set a $47.00 price objective on shares of UGI in a report on Friday, February 2nd. Finally, UBS raised UGI from a “neutral” rating to a “buy” rating in a report on Friday, April 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $48.75.
In related news, CEO John L. Walsh sold 25,000 shares of UGI stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $43.84, for a total value of $1,096,000.00. Following the completion of the sale, the chief executive officer now directly owns 468,166 shares in the company, valued at $20,524,397.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jerry E. Sheridan sold 60,000 shares of UGI stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $48.44, for a total value of $2,906,400.00. Following the completion of the sale, the chief executive officer now owns 49,444 shares of the company’s stock, valued at $2,395,067.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,332 shares of company stock valued at $6,143,434. 2.36% of the stock is currently owned by corporate insiders.
UGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. It distributes propane to approximately 1.9 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers in 50 states through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems.
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