Manning & Napier Advisors LLC Has $3.33 Million Stake in UGI Corporation (NYSE:UGI)

Manning & Napier Advisors LLC cut its stake in UGI Corporation (NYSE:UGI - Free Report) by 32.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,811 shares of the utilities provider's stock after selling 49,189 shares during the period. Manning & Napier Advisors LLC's holdings in UGI were worth $3,334,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of UGI. Advisor Resource Council bought a new position in UGI during the 1st quarter valued at about $1,164,000. Abundance Wealth Counselors grew its position in UGI by 10.6% during the 1st quarter. Abundance Wealth Counselors now owns 32,629 shares of the utilities provider's stock worth $1,079,000 after acquiring an additional 3,115 shares during the last quarter. Blue Trust Inc. increased its holdings in UGI by 18.7% during the 1st quarter. Blue Trust Inc. now owns 4,049 shares of the utilities provider's stock valued at $134,000 after purchasing an additional 637 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in UGI by 63.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 23,822 shares of the utilities provider's stock worth $788,000 after purchasing an additional 9,266 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of UGI by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 25,171 shares of the utilities provider's stock valued at $832,000 after buying an additional 695 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on UGI shares. Mizuho increased their price objective on shares of UGI from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen upgraded UGI from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th.

UGI Stock Up 0.3%

UGI stock traded up $0.09 during mid-day trading on Tuesday, hitting $36.49. 2,810,073 shares of the company were exchanged, compared to its average volume of 2,082,893. The firm's 50 day simple moving average is $34.80 and its 200 day simple moving average is $32.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.05 and a current ratio of 1.23. UGI Corporation has a 1-year low of $22.01 and a 1-year high of $36.73. The firm has a market cap of $7.83 billion, a P/E ratio of 15.02, a P/E/G ratio of 2.24 and a beta of 1.06.

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

UGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, June 16th. UGI's dividend payout ratio is presently 61.73%.

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.