Great West Life Assurance Co. Can Sells 14,593 Shares of UGI Corp (UGI)
Great West Life Assurance Co. Can decreased its holdings in shares of UGI Corp (NYSE:UGI) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,391 shares of the utilities provider’s stock after selling 14,593 shares during the period. Great West Life Assurance Co. Can owned approximately 0.08% of UGI worth $8,127,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Pictet Asset Management Ltd. raised its holdings in UGI by 26.3% during the third quarter. Pictet Asset Management Ltd. now owns 76,442 shares of the utilities provider’s stock worth $4,241,000 after purchasing an additional 15,900 shares in the last quarter. Korea Investment CORP raised its holdings in UGI by 52.0% during the third quarter. Korea Investment CORP now owns 175,400 shares of the utilities provider’s stock worth $9,731,000 after purchasing an additional 60,000 shares in the last quarter. Westpac Banking Corp raised its holdings in UGI by 9.4% during the third quarter. Westpac Banking Corp now owns 111,461 shares of the utilities provider’s stock worth $6,184,000 after purchasing an additional 9,589 shares in the last quarter. Credit Suisse AG raised its holdings in UGI by 1.5% during the third quarter. Credit Suisse AG now owns 238,394 shares of the utilities provider’s stock worth $13,227,000 after purchasing an additional 3,552 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in UGI during the third quarter worth about $976,000. Institutional investors and hedge funds own 79.38% of the company’s stock.
In other UGI news, Director M Shawn Bort sold 9,184 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $57.23, for a total value of $525,600.32. Following the completion of the transaction, the director now directly owns 14,345 shares of the company’s stock, valued at $820,964.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ann P. Kelly sold 9,595 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $56.80, for a total transaction of $544,996.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,279 shares of company stock valued at $6,221,941. 2.36% of the stock is currently owned by corporate insiders.
UGI (NYSE:UGI) last issued its earnings results on Monday, November 12th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.13. UGI had a net margin of 11.11% and a return on equity of 12.12%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that UGI Corp will post 2.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.04 dividend on an annualized basis and a yield of 1.76%. UGI’s dividend payout ratio (DPR) is presently 37.96%.
Several research firms recently issued reports on UGI. ValuEngine raised shares of UGI from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group reissued a “hold” rating and set a $54.00 price target on shares of UGI in a report on Friday, August 17th. Bank of America increased their price target on shares of UGI from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, October 29th. Barclays set a $53.00 price target on shares of UGI and gave the stock a “sell” rating in a report on Friday, October 12th. Finally, Zacks Investment Research cut shares of UGI from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. UGI presently has an average rating of “Hold” and an average price target of $52.60.
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UGI Company Profile
UGI Corporation 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 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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