Federated Hermes Inc. Sells 1,070,737 Shares of UGI Corporation (NYSE:UGI)

Key Points

• Federated Hermes Inc. has reduced its stake in UGI Corporation by 21.6%, selling over 1 million shares, and now holds approximately 3.89 million shares valued at about $128.7 million.
• The stock price of UGI recently opened at $35.65, and it has experienced a 52-week high of $37.42 and a low of $23.09.
• UGI announced a quarterly dividend of $0.375 per share, corresponding to an annualized dividend of $1.50 with a dividend yield of 4.21%.

Federated Hermes Inc. lowered its position in shares of UGI Corporation (NYSE:UGI - Free Report) by 21.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,892,003 shares of the utilities provider's stock after selling 1,070,737 shares during the period. Federated Hermes Inc. owned about 1.81% of UGI worth $128,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UGI. American Century Companies Inc. lifted its holdings in UGI by 62.1% during the 4th quarter. American Century Companies Inc. now owns 68,729 shares of the utilities provider's stock worth $1,940,000 after buying an additional 26,317 shares during the period. LPL Financial LLC lifted its holdings in UGI by 28.2% during the 4th quarter. LPL Financial LLC now owns 398,820 shares of the utilities provider's stock worth $11,259,000 after buying an additional 87,739 shares during the period. Norges Bank acquired a new position in UGI during the 4th quarter worth about $103,115,000. New Age Alpha Advisors LLC acquired a new position in shares of UGI in the 4th quarter valued at about $231,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of UGI by 66.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 28,860 shares of the utilities provider's stock valued at $815,000 after purchasing an additional 11,567 shares during the period. Institutional investors own 82.34% of the company's stock.

UGI Stock Performance

Shares of NYSE:UGI traded up $0.03 during trading on Wednesday, hitting $35.75. 1,119,245 shares of the company were exchanged, compared to its average volume of 1,966,958. The company has a market cap of $7.67 billion, a PE ratio of 14.71, a P/E/G ratio of 1.70 and a beta of 1.05. The stock has a 50 day moving average of $35.94 and a 200 day moving average of $33.64. UGI Corporation has a 52-week low of $23.09 and a 52-week high of $37.42. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.05.

UGI (NYSE:UGI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.41. The company had revenue of $2.67 billion for 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 firm's revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 earnings per share. As a group, equities research analysts predict 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. Investors of record on Friday, May 16th were paid a $0.375 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.50 annualized dividend and a dividend yield of 4.20%. UGI's payout ratio is 61.73%.

Analyst Ratings Changes

A number of brokerages recently commented on UGI. Wall Street Zen lowered UGI from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Mizuho boosted their target price on UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research 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.