359,230 Shares in UGI Corporation $UGI Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in UGI Corporation (NYSE:UGI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 359,230 shares of the utilities provider’s stock, valued at approximately $12,408,000.

A number of other institutional investors and hedge funds have also bought and sold shares of UGI. Aberdeen Wealth Management LLC purchased a new position in shares of UGI in the second quarter valued at about $42,000. Versant Capital Management Inc grew its position in shares of UGI by 45.6% during the second quarter. Versant Capital Management Inc now owns 1,268 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 397 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in UGI during the 2nd quarter valued at approximately $53,000. Persistent Asset Partners Ltd purchased a new position in UGI in the 2nd quarter worth approximately $71,000. Finally, State of Wyoming purchased a new position in UGI in the 2nd quarter worth approximately $71,000. 82.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Kathleen Shea-Ballay sold 25,360 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $33.62, for a total value of $852,603.20. Following the sale, the insider owned 25,360 shares in the company, valued at approximately $852,603.20. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on UGI shares. Wall Street Zen raised shares of UGI from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lowered their target price on shares of UGI from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Zacks Research cut shares of UGI from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings downgraded shares of UGI from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.

UGI Price Performance

Shares of UGI stock opened at $38.42 on Tuesday. The stock has a 50 day moving average of $36.21 and a 200 day moving average of $36.12. UGI Corporation has a 12 month low of $31.62 and a 12 month high of $41.34. The firm has a market cap of $8.24 billion, a PE ratio of 12.85 and a beta of 0.93. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 1.28.

UGI (NYSE:UGI) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). UGI had a net margin of 9.20% and a return on equity of 12.80%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.50 billion. On average, research analysts expect that UGI Corporation will post 2.82 EPS for the current fiscal year.

UGI Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.9%. UGI’s dividend payout ratio (DPR) is 50.17%.

UGI 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.