UGI Corporation (UGI) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of UGI Corporation (NYSE:UGI) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “UGI Corporation is a holding company that operates propane distribution, gas and electric utility, energy marketing and related businesses through subsidiaries. Our majority-owned subsidiary, AmeriGas Partners, L.P., a Delaware limited partnership, conducts one of the nation’s largest retail propane distribution businesses through its subsidiary AmeriGas Propane, L.P. “
Several other equities research analysts have also recently weighed in on the company. Barclays PLC reiterated a sell rating and set a $45.00 price target on shares of UGI Corporation in a research report on Friday, July 21st. BidaskClub cut UGI Corporation from a hold rating to a sell rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC reiterated a hold rating and set a $46.00 price target on shares of UGI Corporation in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $48.00.
Shares of UGI Corporation (UGI) opened at 48.71 on Tuesday. UGI Corporation has a 1-year low of $41.79 and a 1-year high of $52.00. The stock has a 50 day moving average of $49.25 and a 200-day moving average of $49.29. The firm has a market capitalization of $8.44 billion, a P/E ratio of 22.16 and a beta of 0.69.
UGI Corporation (NYSE:UGI) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.07. UGI Corporation had a net margin of 6.48% and a return on equity of 10.44%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that UGI Corporation will post $2.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, September 14th. UGI Corporation’s dividend payout ratio (DPR) is 45.87%.
In related news, Director Anne Pol sold 6,750 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $50.61, for a total value of $341,617.50. Following the transaction, the director now directly owns 12,062 shares in the company, valued at $610,457.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Credit Suisse AG increased its position in shares of UGI Corporation by 21.0% in the first quarter. Credit Suisse AG now owns 289,446 shares of the utilities provider’s stock worth $14,299,000 after purchasing an additional 50,137 shares during the last quarter. SG Americas Securities LLC increased its position in shares of UGI Corporation by 91.1% in the second quarter. SG Americas Securities LLC now owns 61,165 shares of the utilities provider’s stock worth $2,961,000 after purchasing an additional 29,159 shares during the last quarter. Morgan Stanley increased its position in shares of UGI Corporation by 31.1% in the first quarter. Morgan Stanley now owns 619,940 shares of the utilities provider’s stock worth $30,624,000 after purchasing an additional 147,152 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of UGI Corporation by 1.5% in the first quarter. Pictet Asset Management Ltd. now owns 62,300 shares of the utilities provider’s stock worth $3,078,000 after purchasing an additional 900 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of UGI Corporation by 3.0% in the first quarter. Ameriprise Financial Inc. now owns 503,161 shares of the utilities provider’s stock worth $24,859,000 after purchasing an additional 14,633 shares during the last quarter. Institutional investors own 77.87% of the company’s stock.
UGI Corporation Company Profile
UGI Corporation is a holding company. The Company distributes, stores, transports and markets energy products and related services. It operates through six segments. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P. The UGI France segment consists of the French LPG distribution business of its subsidiaries, Antargaz, Finagaz and its liquefied petroleum gases (LPG) distribution businesses.
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