Allspring Global Investments Holdings LLC Trims Holdings in UGI Corporation (NYSE:UGI)

Allspring Global Investments Holdings LLC lessened its holdings in shares of UGI Corporation (NYSE:UGI - Free Report) by 8.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,234 shares of the utilities provider's stock after selling 15,453 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of UGI worth $5,569,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Corundum Trust Company INC bought a new stake in shares of UGI during the 1st quarter valued at $376,000. Sequoia Financial Advisors LLC purchased a new stake in UGI during the 1st quarter valued at about $338,000. Perigon Wealth Management LLC purchased a new stake in UGI during the 1st quarter valued at about $203,000. HBK Sorce Advisory LLC grew its position in UGI by 13.5% during the 1st quarter. HBK Sorce Advisory LLC now owns 11,634 shares of the utilities provider's stock valued at $385,000 after purchasing an additional 1,381 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in UGI by 104.8% during the 1st quarter. Golden State Wealth Management LLC now owns 2,577 shares of the utilities provider's stock valued at $85,000 after purchasing an additional 1,319 shares during the last quarter. Institutional investors own 82.34% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho increased their price objective on shares of UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen raised shares of UGI from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th.

UGI Stock Performance

NYSE:UGI traded down $0.14 during mid-day trading on Tuesday, reaching $35.15. The company's stock had a trading volume of 360,000 shares, compared to its average volume of 2,066,624. UGI Corporation has a 12-month low of $22.01 and a 12-month high of $36.74. The firm's fifty day moving average price is $35.39 and its two-hundred day moving average price is $32.80. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 1.31. The stock has a market cap of $7.54 billion, a P/E ratio of 14.47, a PEG ratio of 2.18 and a beta of 1.05.

UGI (NYSE:UGI - Get Free Report) last released 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 7.28% and a return on equity of 16.21%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that UGI Corporation will post 3.02 EPS for the current fiscal year.

UGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Monday, June 16th. UGI's payout ratio is currently 61.73%.

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.