Bank of America Corp DE Decreases Stock Holdings in UGI Co. (NYSE:UGI)

Bank of America Corp DE decreased its holdings in shares of UGI Co. (NYSE:UGI) by 50.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 933,189 shares of the utilities provider’s stock after selling 954,614 shares during the quarter. Bank of America Corp DE’s holdings in UGI were worth $26,344,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in UGI by 254.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 181,687 shares of the utilities provider’s stock valued at $5,138,000 after purchasing an additional 130,407 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in UGI by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,555,075 shares of the utilities provider’s stock valued at $72,130,000 after purchasing an additional 51,861 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of UGI in the fourth quarter valued at $253,000. Jump Financial LLC raised its stake in shares of UGI by 190.8% in the fourth quarter. Jump Financial LLC now owns 34,158 shares of the utilities provider’s stock valued at $964,000 after acquiring an additional 22,411 shares during the period. Finally, Sanctuary Advisors LLC raised its stake in shares of UGI by 1,232.3% in the fourth quarter. Sanctuary Advisors LLC now owns 291,464 shares of the utilities provider’s stock valued at $9,032,000 after acquiring an additional 269,588 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Trading Up 0.5%

Shares of UGI opened at $35.48 on Friday. UGI Co. has a twelve month low of $22.01 and a twelve month high of $35.50. The company has a market cap of $7.61 billion, a P/E ratio of 13.97, a P/E/G ratio of 2.26 and a beta of 1.05. The company has a current ratio of 1.00, a quick ratio of 0.82 and a debt-to-equity ratio of 1.44. The company’s fifty day simple moving average is $32.87 and its 200-day simple moving average is $30.43.

UGI (NYSE:UGI) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.41. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $3.26 billion. UGI had a net margin of 7.73% and a return on equity of 15.19%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 earnings per share. As a group, analysts expect that UGI Co. will post 3.02 EPS for the current year.

UGI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, June 16th. UGI’s payout ratio is presently 61.73%.

Insider Transactions at UGI

In other UGI news, insider Michael Sharp bought 4,806 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $33.30 per share, for a total transaction of $160,039.80. Following the acquisition, the insider now directly owns 4,806 shares in the company, valued at approximately $160,039.80. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on UGI shares. StockNews.com raised shares of UGI from a “hold” rating to a “buy” rating in a research note on Thursday. Mizuho increased their target price on shares of UGI from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday.

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.