Envestnet Asset Management Inc. Buys 58,971 Shares of UGI Corporation (NYSE:UGI)

Key Points

• Envestnet Asset Management Inc. increased its stake in UGI Corporation by 73.1% during the first quarter, now owning 139,604 shares worth approximately $4.62 million.
• UGI reported an EPS of $2.21 in its latest earnings, beating analyst estimates by $0.41, with an 8.1% year-over-year revenue increase despite a revenue of $2.67 billion that fell short of estimates.
• The company also declared a quarterly dividend of $0.375, resulting in an annualized dividend of $1.50 and a yield of 4.16%.

Envestnet Asset Management Inc. boosted its stake in shares of UGI Corporation (NYSE:UGI - Free Report) by 73.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,604 shares of the utilities provider's stock after purchasing an additional 58,971 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of UGI worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its holdings in UGI by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 19,006 shares of the utilities provider's stock worth $537,000 after purchasing an additional 1,097 shares during the last quarter. American Century Companies Inc. grew its holdings in UGI by 62.1% in the fourth quarter. American Century Companies Inc. now owns 68,729 shares of the utilities provider's stock worth $1,940,000 after purchasing an additional 26,317 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in UGI in the fourth quarter worth $2,378,000. LPL Financial LLC grew its holdings in UGI by 28.2% in the fourth quarter. LPL Financial LLC now owns 398,820 shares of the utilities provider's stock worth $11,259,000 after purchasing an additional 87,739 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in UGI in the fourth quarter worth $18,344,000. Institutional investors own 82.34% of the company's stock.

UGI Trading Up 0.5%

UGI stock opened at $36.02 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 1.31. UGI Corporation has a 52 week low of $23.09 and a 52 week high of $37.42. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The stock has a 50-day moving average price of $35.95 and a 200 day moving average price of $33.51.

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

UGI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 16th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Monday, June 16th. UGI's payout ratio is 61.73%.

Wall Street Analyst Weigh In

UGI has been the topic of several analyst reports. Wall Street Zen lowered shares of UGI from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Mizuho boosted their price objective on shares of UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a report on Thursday, May 15th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.