Commerce Bank Acquires Shares of 25,793 UGI Co. (NYSE:UGI)

Commerce Bank bought a new position in UGI Co. (NYSE:UGI) during the 3rd quarter, Holdings Channel.com reports. The fund bought 25,793 shares of the utilities provider’s stock, valued at approximately $645,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jupiter Asset Management Ltd. bought a new stake in UGI in the 2nd quarter valued at $53,371,000. ProShare Advisors LLC increased its holdings in shares of UGI by 84.9% in the second 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 during the last quarter. AQR Capital Management LLC lifted its position in shares of UGI by 112.7% in the second quarter. AQR Capital Management LLC now owns 2,025,457 shares of the utilities provider’s stock worth $46,383,000 after buying an additional 1,073,013 shares in the last quarter. Federated Hermes Inc. boosted its stake in UGI by 28.7% during 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 during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in UGI by 105.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,507,263 shares of the utilities provider’s stock valued at $37,712,000 after buying an additional 774,770 shares in the last quarter. Institutional investors own 82.34% of the company’s stock.

UGI Stock Up 2.9 %

NYSE UGI opened at $29.34 on Tuesday. 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 Co. has a 52 week low of $21.51 and a 52 week high of $29.51. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 23.66 and a beta of 1.13. The company has a fifty day moving average of $24.51 and a two-hundred day moving average of $24.12.

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 16th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, December 16th. This represents a $1.50 annualized dividend and a yield of 5.11%. UGI’s payout ratio is 120.97%.

Analysts Set New Price Targets

Several analysts have recently issued reports on UGI shares. Mizuho raised UGI from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Friday, November 15th. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on shares of UGI in a report on Friday. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, UGI presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.