Cubist Systematic Strategies LLC Acquires 2,053 Shares of UGI Corp (UGI)
Cubist Systematic Strategies LLC grew its holdings in UGI Corp (NYSE:UGI) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,873 shares of the utilities provider’s stock after acquiring an additional 2,053 shares during the period. Cubist Systematic Strategies LLC’s holdings in UGI were worth $566,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of UGI. Lord Abbett & CO. LLC acquired a new stake in shares of UGI in the first quarter worth $15,662,000. Renaissance Technologies LLC raised its stake in UGI by 17.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,224,650 shares of the utilities provider’s stock valued at $115,838,000 after purchasing an additional 335,000 shares during the last quarter. Allianz Asset Management GmbH raised its stake in UGI by 754.7% during the 1st quarter. Allianz Asset Management GmbH now owns 358,643 shares of the utilities provider’s stock valued at $15,931,000 after purchasing an additional 316,683 shares during the last quarter. Bank of Montreal Can acquired a new position in UGI during the 2nd quarter valued at $14,289,000. Finally, Canada Pension Plan Investment Board raised its stake in UGI by 73.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 618,108 shares of the utilities provider’s stock valued at $32,185,000 after purchasing an additional 262,400 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research cut shares of UGI from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. ValuEngine cut shares of UGI from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Barclays upped their target price on shares of UGI from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Wednesday, July 11th. Bank of America cut shares of UGI from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research note on Tuesday, June 5th. They noted that the move was a valuation call. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $54.00 target price on shares of UGI in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $51.60.
UGI (NYSE:UGI) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.04). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. UGI had a net margin of 11.09% and a return on equity of 11.89%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. analysts expect that UGI Corp will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, September 13th. UGI’s dividend payout ratio (DPR) is presently 45.41%.
In other UGI news, insider Joseph L. Hartz sold 18,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $55.51, for a total value of $999,180.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.36% of the company’s stock.
UGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. It distributes propane to approximately 1.9 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers in 50 states through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems.
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