Maridea Wealth Management LLC Invests $578,000 in UGI Corporation (NYSE:UGI)

Key Points

• Maridea Wealth Management LLC invested approximately $578,000 in UGI Corporation, acquiring 17,468 shares in the first quarter, joining other large investors who have also increased their stakes in the company.
• UGI Corporation reported an EPS of $2.21 for the last quarter, significantly exceeding the analysts' expectations of $1.80, and achieved revenue of $2.67 billion, although below the forecast of $3.26 billion.
• The company declared a quarterly dividend of $0.375, translating to an annualized yield of 4.16%, with a payout ratio currently at 61.73%.

Maridea Wealth Management LLC purchased a new stake in UGI Corporation (NYSE:UGI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,468 shares of the utilities provider's stock, valued at approximately $578,000.

Several other large investors have also recently modified their holdings of UGI. Norges Bank acquired a new position in UGI during the 4th quarter valued at approximately $103,115,000. FMR LLC lifted its holdings in UGI by 22.4% during the fourth quarter. FMR LLC now owns 11,529,202 shares of the utilities provider's stock valued at $325,469,000 after purchasing an additional 2,110,337 shares in the last quarter. Corvex Management LP acquired a new stake in shares of UGI in the fourth quarter valued at about $55,354,000. Pictet Asset Management Holding SA raised its position in shares of UGI by 5,776.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,739,419 shares of the utilities provider's stock valued at $49,104,000 after buying an additional 1,709,820 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in UGI by 5,215.3% during the fourth quarter. Neuberger Berman Group LLC now owns 1,560,265 shares of the utilities provider's stock worth $44,046,000 after purchasing an additional 1,530,911 shares during the last quarter. Institutional investors own 82.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UGI. Mizuho lifted their price target on shares of UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of UGI from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th.

UGI Stock Performance

UGI stock traded down $0.38 during trading hours on Monday, reaching $35.65. 1,960,438 shares of the stock were exchanged, compared to its average volume of 1,527,796. The firm's 50 day moving average is $35.95 and its 200 day moving average is $33.63. 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 stock has a market cap of $7.64 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.72 and a beta of 1.05. UGI Corporation has a 52-week low of $23.09 and a 52-week high of $37.42.

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, beating 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 period last year, the firm posted $1.97 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Analysts predict that UGI Corporation will post 3.02 EPS for the current fiscal year.

UGI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 16th were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.50 annualized dividend and a dividend yield of 4.21%. UGI's dividend payout ratio is presently 61.73%.

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.