Mackenzie Financial Corp Cuts Holdings in UGI Corporation (NYSE:UGI)

Mackenzie Financial Corp reduced its position in UGI Corporation (NYSE:UGI - Free Report) by 29.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,394 shares of the utilities provider's stock after selling 14,998 shares during the period. Mackenzie Financial Corp's holdings in UGI were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake 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 purchased a new position in shares of UGI in the 4th quarter worth $25,000. GeoWealth Management LLC purchased a new position in shares of UGI in the 4th quarter worth $27,000. CX Institutional purchased a new position in shares of UGI in the 1st quarter worth $30,000. Finally, Anderson Financial Strategies LLC purchased a new position in shares of UGI in the 4th quarter worth $41,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

UGI Price Performance

NYSE UGI opened at $36.88 on Tuesday. The company has a market capitalization of $7.91 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.05. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.05 and a current ratio of 1.23. The business's fifty day moving average is $35.97 and its 200 day moving average is $33.86. UGI Corporation has a fifty-two week low of $23.09 and a fifty-two week high of $37.42.

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

UGI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 16th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.50 dividend on an annualized basis and a yield of 4.1%. UGI's dividend payout ratio (DPR) is currently 61.73%.

Analyst Ratings Changes

UGI has been the topic of several analyst reports. Wall Street Zen downgraded UGI from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Mizuho lifted their target price on UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research report 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.

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