Longfellow Investment Management Co. LLC Decreases Stock Position in UGI Corporation (NYSE:UGI)

Key Points

• Longfellow Investment Management Co. LLC has reduced its stake in UGI Corporation by 50.3%, now holding 196,533 shares, making UGI its 14th largest investment.
• UGI recently announced a quarterly dividend of $0.375, yielding 4.3%, with the payment date set for October 1st, 2023.
• Despite a net margin of 5.70% for the latest quarter, UGI's revenue fell short of analysts' estimates, reporting $1.39 billion against an expected $1.77 billion.

Longfellow Investment Management Co. LLC lowered its stake in UGI Corporation (NYSE:UGI - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,533 shares of the utilities provider's stock after selling 199,154 shares during the quarter. UGI comprises approximately 1.6% of Longfellow Investment Management Co. LLC's holdings, making the stock its 14th largest holding. Longfellow Investment Management Co. LLC owned 0.09% of UGI worth $6,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its holdings in shares of UGI by 216.7% in the 4th quarter. Bessemer Group Inc. now owns 893 shares of the utilities provider's stock worth $25,000 after buying an additional 611 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of UGI in the 4th quarter worth about $25,000. GeoWealth Management LLC bought a new stake in shares of UGI in the 4th quarter worth about $27,000. CX Institutional bought a new stake in shares of UGI in the 1st quarter worth about $30,000. Finally, Anderson Financial Strategies LLC bought a new stake in shares of UGI in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 82.34% of the company's stock.

UGI Stock Performance

UGI stock opened at $35.10 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.70 and a quick ratio of 0.56. UGI Corporation has a 1-year low of $23.09 and a 1-year high of $37.42. The firm has a market capitalization of $7.54 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company's 50-day moving average is $35.96 and its 200 day moving average is $34.01.

UGI (NYSE:UGI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.11. UGI had a net margin of 5.70% and a return on equity of 15.73%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $0.06 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts forecast that UGI Corporation will post 3.02 EPS for the current year.

UGI Announces Dividend

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

Analyst Ratings Changes

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

UGI Profile

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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