KLP Kapitalforvaltning AS Lowers Holdings in UGI Corporation (NYSE:UGI)

Key Points

• KLP Kapitalforvaltning AS decreased its stake in UGI Corporation by 11.6%, reducing its holdings to 73,600 shares worth approximately $2.46 million.
• UGI reported $2.21 earnings per share for the last quarter, exceeding expectations, but its revenue of $2.67 billion fell short of analysts' estimates.
• UGI recently declared a quarterly dividend of $0.375, resulting in an annualized dividend yield of 4.16%.

KLP Kapitalforvaltning AS trimmed its position in shares of UGI Corporation (NYSE:UGI - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,600 shares of the utilities provider's stock after selling 9,700 shares during the period. KLP Kapitalforvaltning AS's holdings in UGI were worth $2,456,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of UGI in the 1st quarter valued at approximately $338,000. Red Door Wealth Management LLC acquired a new stake in shares of UGI during the 1st quarter valued at $230,000. Meritage Portfolio Management acquired a new stake in shares of UGI during the 1st quarter valued at $5,176,000. Jump Financial LLC boosted its position in UGI by 190.8% during the 4th quarter. Jump Financial LLC now owns 34,158 shares of the utilities provider's stock worth $964,000 after buying an additional 22,411 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of UGI in the first quarter worth $1,124,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.

UGI Stock Performance

Shares of UGI traded up $0.01 on Tuesday, reaching $35.67. 177,431 shares of the company's stock traded hands, compared to its average volume of 1,965,298. UGI Corporation has a 52-week low of $23.09 and a 52-week high of $37.42. The stock has a market cap of $7.65 billion, a PE ratio of 14.68, a PEG ratio of 1.72 and a beta of 1.05. The stock's 50 day simple moving average is $35.95 and its two-hundred day simple moving average is $33.63. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 1.31.

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

UGI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 16th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, June 16th. UGI's dividend payout ratio is currently 61.73%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Mizuho lifted their target price on UGI from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen lowered UGI from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th.

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.