Comerica Bank Reduces Position in UGI Corporation $UGI

Key Points

• Comerica Bank reduced its stake in UGI Corporation by 5.6%, selling 8,279 shares, and now owns 140,319 shares valued at approximately $4.64 million.
• The company posted a quarterly loss of ($0.01) EPS, beating estimates, but reported a revenue of $1.39 billion, below the expected $1.77 billion.
• UGI announced a quarterly dividend of $0.375 per share, with a yield of 4.3%, scheduled for payment on October 1st.

Comerica Bank cut its stake in shares of UGI Corporation (NYSE:UGI - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,319 shares of the utilities provider's stock after selling 8,279 shares during the quarter. Comerica Bank owned approximately 0.07% of UGI worth $4,640,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Northern Trust Corp increased its position in shares of UGI by 2.9% during the first quarter. Northern Trust Corp now owns 4,120,082 shares of the utilities provider's stock worth $136,251,000 after acquiring an additional 117,663 shares during the period. LSV Asset Management increased its holdings in UGI by 6.6% during the first quarter. LSV Asset Management now owns 4,037,604 shares of the utilities provider's stock valued at $133,524,000 after buying an additional 251,311 shares during the period. Neuberger Berman Group LLC increased its holdings in UGI by 91.5% during the first quarter. Neuberger Berman Group LLC now owns 2,987,818 shares of the utilities provider's stock valued at $98,807,000 after buying an additional 1,427,553 shares during the period. Ameriprise Financial Inc. increased its holdings in UGI by 11.8% during the first quarter. Ameriprise Financial Inc. now owns 2,644,716 shares of the utilities provider's stock valued at $87,472,000 after buying an additional 278,616 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in UGI by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 2,592,251 shares of the utilities provider's stock valued at $85,726,000 after buying an additional 56,777 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on UGI shares. Wall Street Zen downgraded shares of UGI from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Mizuho boosted their target price 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. Finally, Zacks Research raised shares of UGI to a "hold" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.33.

UGI Price Performance

Shares of UGI stock traded up $0.01 on Monday, reaching $34.62. 1,500,842 shares of the company were exchanged, compared to its average volume of 1,819,806. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.65 and a beta of 1.07. The business has a 50-day moving average price of $35.62 and a 200 day moving average price of $34.42. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.70. UGI Corporation has a 1 year low of $23.14 and a 1 year high of $37.42.

UGI (NYSE:UGI - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.11. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.77 billion. UGI had a net margin of 5.70% and a return on equity of 15.73%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. Equities research analysts forecast that UGI Corporation will post 3.02 earnings per share for the current fiscal year.

UGI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.3%. UGI's payout ratio is currently 78.95%.

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.