UGI (NYSE:UGI) Releases Quarterly Earnings Results, Beats Estimates By $0.32 EPS

UGI (NYSE:UGI) announced its quarterly earnings results on Wednesday. The utilities provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.32, Briefing.com reports. UGI had a negative net margin of 5.48% and a positive return on equity of 14.09%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the company posted $1.68 EPS. UGI’s revenue for the quarter was down 20.6% on a year-over-year basis. UGI updated its FY24 guidance to $2.70-3.00 EPS and its FY 2024 guidance to 2.700-3.000 EPS.

UGI Price Performance

Shares of NYSE UGI traded down $1.65 during midday trading on Thursday, reaching $24.24. The company’s stock had a trading volume of 4,726,816 shares, compared to its average volume of 2,076,146. The business’s 50 day moving average price is $24.63 and its two-hundred day moving average price is $23.45. UGI has a fifty-two week low of $20.19 and a fifty-two week high of $33.14. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.79 and a current ratio of 0.98. The company has a market cap of $5.08 billion, a P/E ratio of -10.78 and a beta of 1.13.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UGI. TheStreet raised UGI from a “d+” rating to a “c-” rating in a research report on Wednesday, February 21st. Wells Fargo & Company cut shares of UGI from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $27.00 to $28.00 in a research report on Thursday, March 14th. StockNews.com cut UGI from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, Mizuho boosted their target price on shares of UGI from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th.

About UGI

UGI Corporation, together with its subsidiaries, 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 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.