Evolve Private Wealth LLC Takes $3.35 Million Position in UGI Corporation $UGI

Evolve Private Wealth LLC bought a new position in shares of UGI Corporation (NYSE:UGI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 96,040 shares of the utilities provider’s stock, valued at approximately $3,353,000.

Several other hedge funds have also bought and sold shares of the business. Captrust Financial Advisors raised its holdings in UGI by 11.4% during the fourth quarter. Captrust Financial Advisors now owns 3,191,444 shares of the utilities provider’s stock worth $119,456,000 after buying an additional 327,511 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of UGI by 75.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,335,508 shares of the utilities provider’s stock worth $46,130,000 after acquiring an additional 575,239 shares during the last quarter. Energy Income Partners LLC raised its holdings in shares of UGI by 1.5% in the 2nd quarter. Energy Income Partners LLC now owns 1,302,403 shares of the utilities provider’s stock worth $44,985,000 after acquiring an additional 18,808 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in UGI by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 930,787 shares of the utilities provider’s stock valued at $30,781,000 after acquiring an additional 116,372 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in UGI by 17.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 785,327 shares of the utilities provider’s stock valued at $25,971,000 after acquiring an additional 115,409 shares in the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Zacks Research lowered UGI from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen lowered UGI from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of UGI from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 target price (down from $45.00) on shares of UGI in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price target on shares of UGI from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.00.

Insider Activity

In other news, insider Kathleen Shea-Ballay sold 25,360 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $33.62, for a total transaction of $852,603.20. Following the transaction, the insider owned 25,360 shares of the company’s stock, valued at $852,603.20. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

UGI Stock Performance

Shares of UGI opened at $37.58 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 12.57 and a beta of 0.93. The stock has a 50 day moving average of $35.68 and a 200 day moving average of $36.15. UGI Corporation has a 12 month low of $31.62 and a 12 month high of $41.34.

UGI (NYSE:UGI) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.50 billion. UGI had a return on equity of 12.80% and a net margin of 9.20%. As a group, sell-side analysts forecast that UGI Corporation will post 2.85 earnings per share for the current year.

UGI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th. UGI’s payout ratio is 50.17%.

UGI Company Profile

UGI Corporation (NYSE: UGI) is a publicly traded energy distribution company headquartered in King of Prussia, Pennsylvania. Founded in 1882 as the United Gas Improvement Company, UGI has grown into a diversified provider of energy products and services. The company’s operations are organized into three primary segments—AmeriGas Propane, UGI Utilities and UGI International—each focused on the delivery of propane, natural gas and related services to residential, commercial and industrial customers.

AmeriGas Propane, UGI’s largest segment, is the leading retail propane distributor in the United States with a network of dealers serving customers in all 50 states.