Hsbc Holdings PLC Takes Position in UGI Corporation $UGI

Key Points

• HSBC acquired 29,451 shares of UGI in the second quarter, valued at approximately $1.02 million. Institutional ownership remains high at 82.34%, with several other major investors also establishing new positions.
• UGI reported quarterly revenue of $1.33 billion and an adjusted loss of $0.20 per share, missing analyst expectations of $1.50 billion in revenue and a $0.08 loss per share.
• UGI declared a quarterly dividend of $0.375 per share, representing a $1.50 annualized payout and a 3.9% yield. Analysts have a consensus “Hold” rating and an average price target of $42.

Hsbc Holdings PLC acquired a new stake in shares of UGI Corporation (NYSE:UGI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,451 shares of the utilities provider's stock, valued at approximately $1,016,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ancora Advisors LLC purchased a new stake in shares of UGI in the 2nd quarter valued at about $11,308,000. Canada Pension Plan Investment Board purchased a new position in shares of UGI during the second quarter worth about $1,665,000. SIR Capital Management L.P. purchased a new position in shares of UGI during the second quarter worth about $3,151,000. Legal & General Group Plc bought a new position in shares of UGI in the second quarter worth approximately $12,408,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of UGI in the second quarter worth approximately $73,069,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

UGI Price Performance

Shares of UGI stock opened at $38.42 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.22. UGI Corporation has a one year low of $31.62 and a one year high of $41.34. The business's 50 day simple moving average is $36.28 and its two-hundred day simple moving average is $36.12. The stock has a market capitalization of $8.24 billion, a P/E ratio of 12.85 and a beta of 0.94.

UGI (NYSE:UGI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). UGI had a net margin of 9.20% and a return on equity of 12.80%. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.50 billion. Analysts forecast that UGI Corporation will post 2.82 EPS for the current year.

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.50 annualized dividend and a yield of 3.9%. UGI's dividend payout ratio is presently 50.17%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of UGI from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Wall Street Zen upgraded shares of UGI from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings downgraded shares of UGI from a "buy (b)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered shares of UGI from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, UGI presently has a consensus rating of "Hold" and a consensus price target of $42.00.

Insiders Place Their Bets

In other UGI news, insider Kathleen Shea-Ballay sold 25,360 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $33.62, for a total value of $852,603.20. Following the transaction, the insider owned 25,360 shares in the company, valued at approximately $852,603.20. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

UGI Company Profile

UGI Corporation NYSE: UGI is a publicly traded energy distribution company headquartered in King of Prussia, Pennsylvania. Founded in 1882 as the United Gas Improvement Company, UGI has grown into a diversified provider of energy products and services. The company's operations are organized into three primary segments—AmeriGas Propane, UGI Utilities and UGI International—each focused on the delivery of propane, natural gas and related services to residential, commercial and industrial customers.

AmeriGas Propane, UGI's largest segment, is the leading retail propane distributor in the United States with a network of dealers serving customers in all 50 states.

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