Corvex Management LP Purchases Shares of 1,960,815 UGI Co. (NYSE:UGI)

Corvex Management LP acquired a new stake in shares of UGI Co. (NYSE:UGI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,960,815 shares of the utilities provider's stock, valued at approximately $55,354,000. UGI accounts for about 1.5% of Corvex Management LP's investment portfolio, making the stock its 20th biggest holding. Corvex Management LP owned approximately 0.91% of UGI at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of UGI in the fourth quarter valued at approximately $103,115,000. Hennessy Advisors Inc. boosted its holdings in shares of UGI by 2,050.9% in the fourth quarter. Hennessy Advisors Inc. now owns 2,375,752 shares of the utilities provider's stock valued at $67,067,000 after acquiring an additional 2,265,300 shares in the last quarter. FMR LLC lifted its holdings in shares of UGI by 22.4% in the fourth quarter. FMR LLC now owns 11,529,202 shares of the utilities provider's stock valued at $325,469,000 after buying an additional 2,110,337 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of UGI by 5,776.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,739,419 shares of the utilities provider's stock worth $49,104,000 after purchasing an additional 1,709,820 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of UGI by 5,215.3% during the 4th quarter. Neuberger Berman Group LLC now owns 1,560,265 shares of the utilities provider's stock valued at $44,046,000 after acquiring an additional 1,530,911 shares during the last quarter. 82.34% of the stock is currently owned by institutional investors.

UGI Trading Up 0.3 %

UGI traded up $0.10 during trading on Friday, reaching $35.03. The company had a trading volume of 1,455,298 shares, compared to its average volume of 2,226,422. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.82 and a current ratio of 1.00. UGI Co. has a 12-month low of $22.01 and a 12-month high of $35.41. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.26 and a beta of 1.05. The firm's 50-day simple moving average is $32.66 and its 200 day simple moving average is $30.07.

UGI (NYSE:UGI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.80 by $0.41. UGI had a net margin of 7.73% and a return on equity of 15.19%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. The firm's quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that UGI Co. will post 3.02 earnings per share for the current year.

UGI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 16th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.50 annualized dividend and a yield of 4.28%. UGI's dividend payout ratio (DPR) is presently 61.73%.

Insider Transactions at UGI

In other news, insider Michael Sharp bought 4,806 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $33.30 per share, for a total transaction of $160,039.80. Following the completion of the purchase, the insider now directly owns 4,806 shares of the company's stock, valued at $160,039.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by insiders.

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.