Longfellow Investment Management Co. LLC Has $6.50 Million Stock Holdings 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 reduced its stake in UGI Corporation (NYSE:UGI - Free Report) by 50.3% in 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 makes up approximately 1.6% of Longfellow Investment Management Co. LLC's investment portfolio, making the stock its 14th largest position. Longfellow Investment Management Co. LLC owned about 0.09% of UGI worth $6,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Snyder Capital Management L P lifted its position in UGI by 1.6% in the fourth quarter. Snyder Capital Management L P now owns 5,126,709 shares of the utilities provider's stock valued at $144,727,000 after buying an additional 78,327 shares during the last quarter. LSV Asset Management raised its position in shares of UGI by 6.6% during the 1st quarter. LSV Asset Management now owns 4,037,604 shares of the utilities provider's stock worth $133,524,000 after acquiring an additional 251,311 shares in the last quarter. Northern Trust Corp increased its position in UGI by 21.3% during the fourth quarter. Northern Trust Corp now owns 4,002,419 shares of the utilities provider's stock worth $112,988,000 after buying an additional 703,491 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of UGI by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 2,592,251 shares of the utilities provider's stock valued at $85,726,000 after purchasing an additional 56,777 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of UGI by 50.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,366,100 shares of the utilities provider's stock valued at $66,806,000 after purchasing an additional 795,093 shares during the period. Institutional investors and hedge funds own 82.34% of the company's stock.

UGI Stock Performance

UGI stock traded down $0.42 during mid-day trading on Friday, hitting $35.34. 433,777 shares of the company's stock traded hands, compared to its average volume of 1,945,771. The firm has a 50 day moving average price of $35.93 and a 200 day moving average price of $34.10. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.16. The company has a market cap of $7.59 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. UGI Corporation has a one year low of $23.14 and a one year high of $37.42.

UGI (NYSE:UGI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The utilities provider reported ($0.01) earnings per share for the quarter, beating 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 the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that UGI Corporation will post 3.02 EPS for the current year.

UGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. UGI's payout ratio is currently 78.95%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UGI. Wall Street Zen downgraded UGI from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Mizuho raised their price objective on UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th.

UGI Company 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.