Connable Office Inc. Sells 1,158 Shares of UGI Corporation (NYSE:UGI)

Connable Office Inc. decreased its position in UGI Corporation (NYSE:UGI) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,883 shares of the utilities provider’s stock after selling 1,158 shares during the quarter. Connable Office Inc.’s holdings in UGI were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of UGI. FMR LLC raised its position in UGI by 22.4% in the 4th quarter. FMR LLC now owns 11,529,202 shares of the utilities provider’s stock valued at $325,469,000 after buying an additional 2,110,337 shares during the last quarter. Snyder Capital Management L P grew its stake in shares of UGI by 1.6% during the 4th quarter. Snyder Capital Management L P now owns 5,126,709 shares of the utilities provider’s stock worth $144,727,000 after acquiring an additional 78,327 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of UGI by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 5,058,998 shares of the utilities provider’s stock valued at $157,200,000 after purchasing an additional 296,028 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of UGI by 25.5% in the fourth quarter. Federated Hermes Inc. now owns 4,962,740 shares of the utilities provider’s stock valued at $140,098,000 after purchasing an additional 1,007,156 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of UGI by 6.6% in the first quarter. LSV Asset Management now owns 4,037,604 shares of the utilities provider’s stock worth $133,524,000 after purchasing an additional 251,311 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on UGI shares. Mizuho lifted their price target on shares of UGI from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wall Street Zen downgraded UGI from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th.

UGI Stock Performance

Shares of UGI stock opened at $36.09 on Monday. The company’s 50 day moving average price is $35.96 and its two-hundred day moving average price is $33.81. The firm has a market capitalization of $7.74 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.72 and a beta of 1.05. UGI Corporation has a fifty-two week low of $23.09 and a fifty-two week high of $37.42. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.05.

UGI (NYSE:UGI) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.41. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $3.26 billion. UGI had a net margin of 7.28% and a return on equity of 16.21%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.97 EPS. On average, equities analysts forecast that UGI Corporation will post 3.02 earnings per share for the current fiscal year.

UGI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 16th were issued a dividend of $0.375 per share. The ex-dividend date was Monday, June 16th. This represents a $1.50 annualized dividend and a yield of 4.2%. UGI’s dividend payout ratio (DPR) is presently 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.