UGI Co. (NYSE:UGI) Stake Trimmed by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of UGI Co. (NYSE:UGI) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 582,255 shares of the utilities provider’s stock after selling 1,990 shares during the quarter. Wellington Management Group LLP owned 0.27% of UGI worth $14,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. lifted its position in shares of UGI by 33.0% in the 3rd quarter. Citigroup Inc. now owns 203,313 shares of the utilities provider’s stock valued at $5,087,000 after acquiring an additional 50,485 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of UGI by 2,402.0% in the third quarter. International Assets Investment Management LLC now owns 26,046 shares of the utilities provider’s stock valued at $652,000 after purchasing an additional 25,005 shares in the last quarter. FMR LLC boosted its position in shares of UGI by 42.0% in the third quarter. FMR LLC now owns 9,418,865 shares of the utilities provider’s stock worth $235,660,000 after buying an additional 2,786,878 shares during the period. Commerce Bank purchased a new position in shares of UGI during the third quarter valued at $645,000. Finally, Allspring Global Investments Holdings LLC raised its position in UGI by 945.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 51,280 shares of the utilities provider’s stock valued at $1,283,000 after buying an additional 46,377 shares during the period. 82.34% of the stock is currently owned by institutional investors and hedge funds.

UGI Stock Performance

Shares of UGI opened at $28.55 on Friday. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 23.02 and a beta of 1.21. The company’s fifty day moving average is $25.78 and its 200-day moving average is $24.56. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.48. UGI Co. has a 12 month low of $21.67 and a 12 month high of $30.48.

UGI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be given a $0.375 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.25%. UGI’s dividend payout ratio is currently 120.97%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho upgraded shares of UGI from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $30.00 in a research note on Friday, November 15th. Finally, Jefferies Financial Group assumed coverage on shares of UGI in a research note on Friday, November 22nd. They set a “buy” rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.33.

UGI Company 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.