UGI Co. (NYSE:UGI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of UGI Co. (NYSE:UGI) by 35.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,227,732 shares of the utilities provider’s stock after purchasing an additional 318,655 shares during the quarter. JPMorgan Chase & Co.’s holdings in UGI were worth $30,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its position in shares of UGI by 42.0% during the third quarter. FMR LLC now owns 9,418,865 shares of the utilities provider’s stock worth $235,660,000 after purchasing an additional 2,786,878 shares during the last quarter. Geode Capital Management LLC grew its position in shares of UGI by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,762,970 shares of the utilities provider’s stock worth $127,246,000 after acquiring an additional 1,202,938 shares in the last quarter. Federated Hermes Inc. raised its position in shares of UGI by 28.7% during the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $62,630,000 after acquiring an additional 808,113 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in UGI by 84.9% during 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. Institutional investors own 82.34% of the company’s stock.

UGI Stock Up 1.4 %

UGI stock opened at $28.38 on Wednesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.60 and a current ratio of 0.80. UGI Co. has a one year low of $21.67 and a one year high of $30.48. The company has a 50-day simple moving average of $26.81 and a 200-day simple moving average of $25.06. The firm has a market capitalization of $6.09 billion, a P/E ratio of 22.89 and a beta of 1.21.

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th were paid a $0.375 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.50 annualized dividend and a dividend yield of 5.29%. UGI’s payout ratio is currently 120.97%.

Wall Street Analyst Weigh In

Several research firms have weighed in on UGI. Jefferies Financial Group initiated 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. Mizuho raised shares of 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 report on Friday, November 15th. Finally, 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. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.