16,365 Shares in UGI Corporation (NYSE:UGI) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new stake in UGI Corporation (NYSE:UGI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,365 shares of the utilities provider's stock, valued at approximately $541,000.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of UGI by 216.7% in the 4th quarter. Bessemer Group Inc. now owns 893 shares of the utilities provider's stock worth $25,000 after acquiring an additional 611 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in UGI during the 4th quarter valued at about $25,000. GeoWealth Management LLC purchased a new stake in shares of UGI in the fourth quarter worth $27,000. CX Institutional purchased a new stake in shares of UGI in the first quarter worth $30,000. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of UGI in the fourth quarter worth $41,000. 82.34% of the stock is currently owned by institutional investors.

UGI Price Performance

NYSE:UGI traded up $0.18 during trading hours on Friday, reaching $36.02. The stock had a trading volume of 1,560,353 shares, compared to its average volume of 1,978,348. The company has a 50 day moving average price of $35.94 and a two-hundred day moving average price of $33.46. The stock has a market capitalization of $7.72 billion, a PE ratio of 14.82, a PEG ratio of 2.24 and a beta of 1.05. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.05 and a current ratio of 1.23. UGI Corporation has a 52 week low of $23.09 and a 52 week high of $37.42.

UGI (NYSE:UGI - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.41. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $3.26 billion. UGI had a return on equity of 16.21% and a net margin of 7.28%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. As a group, sell-side analysts anticipate that UGI Corporation will post 3.02 earnings per share for the current fiscal year.

UGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 16th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, June 16th. UGI's payout ratio is currently 61.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Mizuho increased their target price on UGI from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded UGI from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th.

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.