State of Alaska Department of Revenue Buys 1,690 Shares of UGI Co. (NYSE:UGI)

State of Alaska Department of Revenue raised its position in shares of UGI Co. (NYSE:UGI) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,311 shares of the utilities provider’s stock after acquiring an additional 1,690 shares during the period. State of Alaska Department of Revenue’s holdings in UGI were worth $608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in UGI. Jupiter Asset Management Ltd. bought a new position in UGI during the second quarter worth about $53,371,000. ProShare Advisors LLC grew its position in shares of UGI by 84.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,445,010 shares of the utilities provider’s stock worth $55,991,000 after purchasing an additional 1,122,766 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of UGI by 112.7% during the second quarter. AQR Capital Management LLC now owns 2,025,457 shares of the utilities provider’s stock worth $46,383,000 after purchasing an additional 1,073,013 shares during the period. Federated Hermes Inc. raised its position in shares of UGI by 28.7% in the second quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock valued at $81,014,000 after buying an additional 788,457 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of UGI by 135.7% in the second quarter. Millennium Management LLC now owns 1,096,382 shares of the utilities provider’s stock valued at $25,107,000 after buying an additional 631,124 shares during the period. Institutional investors and hedge funds own 82.34% of the company’s stock.

UGI Stock Performance

Shares of NYSE:UGI opened at $23.86 on Friday. UGI Co. has a 1 year low of $20.32 and a 1 year high of $26.15. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 7.65 and a beta of 1.13. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.91 and a quick ratio of 0.71. The company’s 50 day simple moving average is $24.37 and its 200 day simple moving average is $24.16.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on UGI shares. Wells Fargo & Company raised their price objective on UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com cut UGI from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th.

UGI Profile

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.