Gabelli Funds LLC Lowers Position in UGI Corporation $UGI

Key Points

• Gabelli Funds LLC has reduced its stake in UGI Corporation by 4.7%, now holding approximately 542,000 shares valued at $17.9 million as of the end of the first quarter.
• UGI Corporation reported a loss of ($0.01) EPS for the most recent quarter, surpassing expectations, but fell short on revenue with $1.39 billion against an estimate of $1.77 billion.
• The company recently announced a quarterly dividend of $0.375 per share, yielding 4.3%, with the payment date set for October 1st.

Gabelli Funds LLC cut its stake in shares of UGI Corporation (NYSE:UGI - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 542,000 shares of the utilities provider's stock after selling 27,000 shares during the period. Gabelli Funds LLC owned about 0.25% of UGI worth $17,924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of UGI. CX Institutional purchased a new position in UGI during the first quarter valued at $30,000. Anderson Financial Strategies LLC bought a new stake in UGI during the fourth quarter valued at about $41,000. Private Trust Co. NA raised its holdings 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 period. Parvin Asset Management LLC bought a new stake in UGI during the fourth quarter valued at about $49,000. Finally, Quintet Private Bank Europe S.A. raised its holdings in UGI by 25.3% during the first quarter. Quintet Private Bank Europe S.A. now owns 1,880 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 380 shares during the period. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Zacks Research raised UGI to a "hold" rating in a report on Monday, August 11th. Wall Street Zen cut UGI from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Finally, Mizuho raised their price target on UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, UGI has an average rating of "Moderate Buy" and an average price target of $31.33.

UGI Trading Down 0.8%

Shares of UGI stock opened at $34.84 on Wednesday. UGI Corporation has a 12-month low of $23.14 and a 12-month high of $37.42. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The stock's 50-day moving average price is $35.75 and its 200-day moving average price is $34.33. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05.

UGI (NYSE:UGI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.11. UGI had a return on equity of 15.73% and a net margin of 5.70%.The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that UGI Corporation will post 3.02 EPS for the current fiscal year.

UGI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, September 15th. UGI's payout ratio is 78.95%.

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.

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