First Eagle Investment Management LLC Sells 1,337,099 Shares of UGI Co. (NYSE:UGI)

First Eagle Investment Management LLC cut its stake in shares of UGI Co. (NYSE:UGI) by 29.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,267,658 shares of the utilities provider’s stock after selling 1,337,099 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.56% of UGI worth $74,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stolper Co boosted its position in shares of UGI by 0.5% in the first quarter. Stolper Co now owns 78,764 shares of the utilities provider’s stock worth $1,933,000 after purchasing an additional 430 shares during the period. GAMMA Investing LLC increased its stake in UGI by 24.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,627 shares of the utilities provider’s stock worth $60,000 after buying an additional 512 shares in the last quarter. Fulton Bank N.A. raised its holdings in UGI by 3.9% during the second quarter. Fulton Bank N.A. now owns 14,983 shares of the utilities provider’s stock valued at $343,000 after acquiring an additional 558 shares during the period. Whittier Trust Co. lifted its position in shares of UGI by 99.7% in the second quarter. Whittier Trust Co. now owns 1,198 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 598 shares in the last quarter. Finally, Concord Wealth Partners boosted its stake in shares of UGI by 100.0% in the first quarter. Concord Wealth Partners now owns 1,274 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 637 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

UGI Stock Up 1.4 %

Shares of UGI stock opened at $24.16 on Thursday. The company’s fifty day simple moving average is $24.25 and its two-hundred day simple moving average is $24.17. UGI Co. has a 52 week low of $20.19 and a 52 week high of $26.15. The stock has a market cap of $5.19 billion, a P/E ratio of -58.93 and a beta of 1.13. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.34.

UGI (NYSE:UGI) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.12. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.73 billion. UGI had a return on equity of 15.65% and a net margin of 9.13%. UGI’s quarterly revenue was down 16.8% compared to the same quarter last year. Analysts predict that UGI Co. will post 2.93 EPS for the current fiscal year.

UGI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Monday, September 16th. UGI’s dividend payout ratio (DPR) is presently -365.84%.

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.