State of Michigan Retirement System Acquires 1,200 Shares of UGI Co. (NYSE:UGI)

State of Michigan Retirement System lifted its holdings in UGI Co. (NYSE:UGIFree Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,458 shares of the utilities provider’s stock after acquiring an additional 1,200 shares during the period. State of Michigan Retirement System’s holdings in UGI were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Stolper Co raised its position in shares of UGI by 0.5% in the 1st quarter. Stolper Co now owns 78,764 shares of the utilities provider’s stock worth $1,933,000 after acquiring an additional 430 shares in the last quarter. Applied Finance Capital Management LLC increased its position in UGI by 4.2% in the 4th quarter. Applied Finance Capital Management LLC now owns 12,583 shares of the utilities provider’s stock valued at $310,000 after buying an additional 503 shares in the last quarter. Fulton Bank N.A. increased its position in UGI by 3.6% in the 4th quarter. Fulton Bank N.A. now owns 18,171 shares of the utilities provider’s stock valued at $447,000 after buying an additional 634 shares in the last quarter. Yousif Capital Management LLC increased its position in UGI by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 103,131 shares of the utilities provider’s stock valued at $2,537,000 after buying an additional 678 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in UGI by 4.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,121 shares of the utilities provider’s stock valued at $474,000 after buying an additional 739 shares in the last quarter. 82.34% of the stock is owned by institutional investors.

UGI Trading Down 0.7 %

NYSE:UGI opened at $22.39 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. The firm’s 50 day moving average is $23.85 and its 200 day moving average is $24.07. UGI Co. has a 12 month low of $20.19 and a 12 month high of $27.78.

UGI (NYSE:UGIGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.32. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $3.07 billion. UGI had a negative net margin of 0.89% and a positive return on equity of 15.78%. UGI’s revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Equities research analysts expect that UGI Co. will post 2.92 earnings per share for the current fiscal year.

UGI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.375 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.70%. UGI’s dividend payout ratio (DPR) is presently -365.84%.

Wall Street Analyst Weigh In

A number of analysts recently commented on UGI shares. StockNews.com lowered UGI from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company cut their price target on UGI from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. Finally, Mizuho lifted their price target on UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th.

Check Out Our Latest Research Report on UGI

About UGI

(Free Report)

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.

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Institutional Ownership by Quarter for UGI (NYSE:UGI)

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