UGI Co. (NYSE:UGI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in shares of UGI Co. (NYSE:UGI) by 0.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 555,332 shares of the utilities provider’s stock after selling 1,127 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in UGI were worth $13,894,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in UGI. Jupiter Asset Management Ltd. purchased a new position in UGI in the second quarter valued at approximately $53,371,000. ProShare Advisors LLC boosted its holdings in shares of UGI by 84.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,445,010 shares of the utilities provider’s stock valued at $55,991,000 after buying an additional 1,122,766 shares in the last quarter. AQR Capital Management LLC grew its position in shares of UGI by 112.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,025,457 shares of the utilities provider’s stock valued at $46,383,000 after buying an additional 1,073,013 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in UGI by 47.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,503,214 shares of the utilities provider’s stock worth $62,630,000 after acquiring an additional 808,113 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in 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 acquiring an additional 788,457 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Stock Performance

Shares of UGI stock opened at $30.37 on Monday. The stock’s 50-day moving average price is $24.99 and its 200 day moving average price is $24.27. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $6.52 billion, a PE ratio of 24.49 and a beta of 1.13. UGI Co. has a 52-week low of $21.51 and a 52-week high of $30.48.

UGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Monday, December 16th. UGI’s payout ratio is currently 120.97%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on UGI shares. Wells Fargo & Company lifted their target price on UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Mizuho upgraded UGI from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $30.00 in a research note 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. Finally, Jefferies Financial Group began coverage on shares of UGI in a research report on Friday, November 22nd. They issued a “buy” rating and a $28.00 price target for the company. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.