Allspring Global Investments Holdings LLC Lowers Stock Holdings in UGI Corporation (NYSE:UGI)

Allspring Global Investments Holdings LLC lowered its position in shares of UGI Corporation (NYSE:UGI) by 8.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,234 shares of the utilities provider’s stock after selling 15,453 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of UGI worth $5,569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of UGI by 216.7% in the 4th quarter. Bessemer Group Inc. now owns 893 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 611 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in UGI in the 4th quarter worth $25,000. CX Institutional bought a new stake in UGI in the first quarter worth $30,000. GeoWealth Management LLC purchased a new stake in UGI during the fourth quarter valued at about $27,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in UGI during the fourth quarter valued at about $30,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised UGI from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 14th. Mizuho lifted their price target on UGI from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th.

UGI Stock Down 0.1%

Shares of NYSE:UGI opened at $35.16 on Friday. UGI Corporation has a 1 year low of $22.01 and a 1 year high of $36.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.05. The stock’s 50-day moving average is $35.34 and its 200 day moving average is $32.71. The company has a market cap of $7.54 billion, a PE ratio of 14.47, a P/E/G ratio of 2.17 and a beta of 1.05.

UGI (NYSE:UGI) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, topping the consensus estimate of $1.80 by $0.41. UGI had a net margin of 7.28% and a return on equity of 16.21%. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business earned $1.97 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that UGI Corporation will post 3.02 EPS for the current year.

UGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 16th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, June 16th. UGI’s dividend payout ratio (DPR) is 61.73%.

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.