8,803 Shares in UGI Co. (NYSE:UGI) Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC acquired a new stake in shares of UGI Co. (NYSE:UGI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,803 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UGI. Federated Hermes Inc. grew its holdings in UGI by 28.7% during the 2nd quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock valued at $81,014,000 after purchasing an additional 788,457 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of UGI by 436.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 89,275 shares of the utilities provider’s stock valued at $2,010,000 after buying an additional 72,640 shares during the last quarter. Cornercap Investment Counsel Inc. raised its holdings in shares of UGI by 81.8% in the second quarter. Cornercap Investment Counsel Inc. now owns 46,452 shares of the utilities provider’s stock worth $1,064,000 after buying an additional 20,896 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of UGI during the 2nd quarter worth approximately $53,371,000. Finally, American Century Companies Inc. boosted its holdings in UGI by 553.4% during the 2nd quarter. American Century Companies Inc. now owns 188,877 shares of the utilities provider’s stock valued at $4,325,000 after acquiring an additional 159,968 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Stock Up 2.3 %

Shares of NYSE UGI opened at $24.02 on Monday. UGI Co. has a 52-week low of $20.19 and a 52-week high of $26.15. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -58.58 and a beta of 1.13. The stock has a 50 day moving average price of $24.15 and a 200 day moving average price of $24.18. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.91.

UGI (NYSE:UGI) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.12. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.73 billion. UGI had a return on equity of 15.65% and a net margin of 9.13%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. Sell-side analysts expect that UGI Co. will post 2.93 earnings per share for the current year.

UGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Monday, September 16th. UGI’s dividend payout ratio (DPR) is -365.84%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered UGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

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.