Allspring Global Investments Holdings LLC Trims Holdings in UGI Co. (NYSE:UGI)

Allspring Global Investments Holdings LLC reduced its stake in shares of UGI Co. (NYSE:UGI) by 93.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,538 shares of the utilities provider’s stock after selling 482,859 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UGI were worth $899,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of UGI. CWM LLC raised its holdings in UGI by 30.3% in the third quarter. CWM LLC now owns 11,745 shares of the utilities provider’s stock valued at $270,000 after buying an additional 2,731 shares during the period. SG Americas Securities LLC purchased a new position in UGI in the third quarter valued at approximately $1,823,000. Occidental Asset Management LLC purchased a new position in UGI in the third quarter valued at approximately $386,000. Simplicity Solutions LLC raised its holdings in UGI by 10.7% in the third quarter. Simplicity Solutions LLC now owns 84,542 shares of the utilities provider’s stock valued at $1,944,000 after buying an additional 8,157 shares during the period. Finally, Edmp Inc. raised its holdings in UGI by 24.0% in the third quarter. Edmp Inc. now owns 106,313 shares of the utilities provider’s stock valued at $2,445,000 after buying an additional 20,569 shares during the period. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

UGI Stock Up 1.9 %

Shares of NYSE:UGI opened at $26.01 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.59. UGI Co. has a 52-week low of $20.19 and a 52-week high of $34.28. The company has a 50 day moving average of $24.51 and a two-hundred day moving average of $23.31. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of -11.82 and a beta of 1.16.

UGI (NYSE:UGI) last released its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. UGI had a negative net margin of 5.48% and a positive return on equity of 14.09%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.98 billion. As a group, analysts forecast that UGI Co. will post 2.9 earnings per share for the current fiscal year.

UGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Thursday, March 14th. UGI’s payout ratio is currently -68.18%.

Analyst Ratings Changes

Several research firms recently commented on UGI. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Mizuho raised their price target 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 downgraded shares of UGI from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $27.00 to $28.00 in a research report on Thursday, March 14th. Finally, TheStreet raised shares of UGI from a “d+” rating to a “c-” rating in a research report on Wednesday, February 21st.

UGI Company Profile

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.