UGI Co. (NYSE:UGI) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of UGI Co. (NYSE:UGI) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,496 shares of the utilities provider’s stock after selling 11,375 shares during the quarter. Amalgamated Bank’s holdings in UGI were worth $3,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UGI. Jupiter Asset Management Ltd. purchased a new stake in shares of UGI during the second quarter worth approximately $53,371,000. Norges Bank acquired a new position in UGI in the fourth quarter valued at $46,034,000. Federated Hermes Inc. grew its stake in shares of UGI by 28.7% in 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. Vanguard Group Inc. raised its stake in shares of UGI by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 26,897,100 shares of the utilities provider’s stock worth $661,669,000 after purchasing an additional 625,128 shares during the last quarter. Finally, Burney Co. grew its position in UGI by 488.6% in the 1st quarter. Burney Co. now owns 748,584 shares of the utilities provider’s stock valued at $18,370,000 after buying an additional 621,409 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Analyst Upgrades and Downgrades

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

UGI Price Performance

UGI stock opened at $24.43 on Tuesday. The company has a market cap of $5.12 billion, a P/E ratio of -59.57 and a beta of 1.13. UGI Co. has a one year low of $20.19 and a one year high of $26.15. The business has a fifty day moving average of $24.31 and a two-hundred day moving average of $24.16. 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 released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.12. UGI had a net margin of 9.13% and a return on equity of 15.65%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.73 billion. The business’s quarterly revenue was down 16.8% on a year-over-year basis. As a group, analysts predict that UGI Co. will post 2.93 earnings per share for the current fiscal year.

UGI Announces Dividend

The company 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. The ex-dividend date is Monday, September 16th. This represents a $1.50 dividend on an annualized basis and a yield of 6.14%. UGI’s payout ratio is -365.85%.

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.