Alpha DNA Investment Management LLC reduced its stake in UGI Co. (NYSE:UGI) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,759 shares of the utilities provider’s stock after selling 228 shares during the period. Alpha DNA Investment Management LLC’s holdings in UGI were worth $154,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of UGI by 4.6% in the first quarter. BlackRock Inc. now owns 21,675,825 shares of the utilities provider’s stock valued at $888,925,000 after acquiring an additional 957,452 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in UGI by 8.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,963,934 shares of the utilities provider’s stock valued at $103,619,000 after buying an additional 236,175 shares in the last quarter. Bank of New York Mellon Corp raised its stake in UGI by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,822,135 shares of the utilities provider’s stock valued at $98,661,000 after buying an additional 313,236 shares in the last quarter. Norges Bank acquired a new stake in UGI in the fourth quarter valued at $83,362,000. Finally, Northern Trust Corp raised its stake in UGI by 2.0% in the fourth quarter. Northern Trust Corp now owns 2,022,887 shares of the utilities provider’s stock valued at $70,721,000 after buying an additional 39,322 shares in the last quarter. Institutional investors and hedge funds own 78.35% of the company’s stock.
Separately, TheStreet upgraded UGI from a “c+” rating to a “b” rating in a research note on Tuesday, February 16th.
UGI (NYSE:UGI) last released its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.27. UGI had a return on equity of 14.86% and a net margin of 12.97%. The firm had revenue of $2.58 billion for the quarter. As a group, equities research analysts forecast that UGI Co. will post 3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, June 14th. This is a positive change from UGI’s previous quarterly dividend of $0.33. UGI’s payout ratio is currently 49.44%.
In other news, CAO Laurie Bergman sold 8,830 shares of the business’s stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $45.74, for a total transaction of $403,884.20. Following the sale, the chief accounting officer now owns 4,516 shares of the company’s stock, valued at approximately $206,561.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.
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 1.5 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,800 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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