Cresset Asset Management LLC Purchases 42,177 Shares of UGI Corporation $UGI

Key Points

• Cresset Asset Management LLC increased its stake in UGI Corporation by 8.6% in Q1, now owning approximately 0.25% of the company, valued at nearly $17.9 million.
• UGI Corporation's stock currently holds a "Moderate Buy" rating with an average target price of $31.33, following varying analyst ratings, with Mizuho raising the price objective to $39.00.
• The company announced a quarterly dividend of $0.375 per share, which translates to an annualized yield of 4.3%, with a payout ratio of 78.95%.

Cresset Asset Management LLC grew its stake in shares of UGI Corporation (NYSE:UGI - Free Report) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 534,536 shares of the utilities provider's stock after acquiring an additional 42,177 shares during the quarter. Cresset Asset Management LLC owned about 0.25% of UGI worth $17,877,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its holdings in UGI by 216.7% in the fourth quarter. Bessemer Group Inc. now owns 893 shares of the utilities provider's stock worth $25,000 after purchasing an additional 611 shares during the last quarter. CX Institutional purchased a new position in shares of UGI in the 1st quarter worth $30,000. GeoWealth Management LLC bought a new stake in shares of UGI in the fourth quarter worth $27,000. Private Trust Co. NA increased its position in UGI by 36.1% during the first quarter. Private Trust Co. NA now owns 1,395 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 370 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in UGI in the fourth quarter valued at about $41,000. 82.34% of the stock is owned by hedge funds and other institutional investors.

UGI Price Performance

UGI traded up $0.2940 during trading on Wednesday, reaching $34.8040. 3,204,066 shares of the company traded hands, compared to its average volume of 1,961,605. The company has a market cap of $7.48 billion, a P/E ratio of 18.32, a PEG ratio of 1.65 and a beta of 1.05. 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 12-month low of $23.14 and a 12-month high of $37.42. The firm has a fifty day simple moving average of $35.87 and a 200 day simple moving average of $34.21.

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

UGI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 4.3%. UGI's dividend payout ratio is presently 78.95%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of 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 research report on Friday, July 18th. Finally, Zacks Research upgraded UGI to a "hold" rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, UGI has an average rating of "Moderate Buy" and a consensus price target of $31.33.

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.