UGI (NYSE:UGI) Given New $27.00 Price Target at Wells Fargo & Company

UGI (NYSE:UGI) had its price objective lifted by Wells Fargo & Company from $26.00 to $27.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

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

UGI Trading Up 1.8 %

Shares of NYSE UGI opened at $25.30 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $24.17. The firm has a market cap of $5.30 billion, a PE ratio of -61.71 and a beta of 1.13. UGI has a twelve month low of $20.19 and a twelve month high of $26.15.

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

UGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid a $0.375 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.50 annualized dividend and a yield of 5.93%. UGI’s dividend payout ratio (DPR) is -365.85%.

Institutional Investors Weigh In On UGI

Several institutional investors have recently bought and sold shares of UGI. Jupiter Asset Management Ltd. acquired a new stake in UGI in the second quarter valued at approximately $53,371,000. ProShare Advisors LLC boosted its stake in UGI by 84.9% in the second quarter. ProShare Advisors LLC now owns 2,445,010 shares of the utilities provider’s stock valued at $55,991,000 after acquiring an additional 1,122,766 shares in the last quarter. AQR Capital Management LLC lifted its stake 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 buying an additional 1,073,013 shares during the period. Federated Hermes Inc. lifted its stake in shares of UGI by 28.7% during the second quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock worth $81,014,000 after buying an additional 788,457 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of UGI by 135.7% during the second quarter. Millennium Management LLC now owns 1,096,382 shares of the utilities provider’s stock worth $25,107,000 after buying an additional 631,124 shares during the period. 82.34% of the stock is currently owned by institutional investors and hedge funds.

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.