Corundum Trust Company INC Makes New Investment in UGI Corporation (NYSE:UGI)

Corundum Trust Company INC bought a new position in shares of UGI Corporation (NYSE:UGI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,373 shares of the utilities provider's stock, valued at approximately $376,000. UGI accounts for 1.1% of Corundum Trust Company INC's portfolio, making the stock its 23rd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UGI. Norges Bank bought a new stake in shares of UGI during the fourth quarter valued at approximately $103,115,000. FMR LLC raised its position in shares of UGI by 22.4% during 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 last quarter. Corvex Management LP bought a new stake in shares of UGI during the fourth quarter valued at approximately $55,354,000. Pictet Asset Management Holding SA raised its position in shares of UGI by 5,776.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,739,419 shares of the utilities provider's stock valued at $49,104,000 after buying an additional 1,709,820 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of UGI by 5,215.3% during the fourth quarter. Neuberger Berman Group LLC now owns 1,560,265 shares of the utilities provider's stock valued at $44,046,000 after buying an additional 1,530,911 shares during the last quarter. Institutional investors own 82.34% of the company's stock.

UGI Trading Up 1.0%

Shares of UGI opened at $36.06 on Friday. The company's fifty day moving average is $35.00 and its 200 day moving average is $32.37. UGI Corporation has a fifty-two week low of $22.01 and a fifty-two week high of $36.74. The stock has a market capitalization of $7.73 billion, a PE ratio of 14.84, a P/E/G ratio of 2.19 and a beta of 1.06. 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 (NYSE:UGI - Get Free Report) last announced its quarterly 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. UGI had a net margin of 7.28% and a return on equity of 16.21%. The company had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the business posted $1.97 earnings per share. UGI's quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that UGI Corporation will post 3.02 earnings per share for the current fiscal year.

UGI Dividend Announcement

The company also recently disclosed 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. This represents a $1.50 annualized dividend and a yield of 4.16%. The ex-dividend date is Monday, June 16th. UGI's payout ratio is 61.73%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UGI. Wall Street Zen upgraded shares of UGI from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Mizuho lifted 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.

UGI 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.

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