Meritage Portfolio Management Invests $5.18 Million in UGI Corporation (NYSE:UGI)

Meritage Portfolio Management bought a new stake in shares of UGI Corporation (NYSE:UGI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 156,510 shares of the utilities provider's stock, valued at approximately $5,176,000. Meritage Portfolio Management owned about 0.07% of UGI as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of UGI. Altshuler Shaham Ltd bought a new position in UGI during the fourth quarter valued at $25,000. Bessemer Group Inc. raised its position in shares of UGI by 216.7% during the 4th quarter. Bessemer Group Inc. now owns 893 shares of the utilities provider's stock valued at $25,000 after buying an additional 611 shares in the last quarter. GeoWealth Management LLC bought a new position in shares of UGI in the 4th quarter valued at about $27,000. Flagship Wealth Advisors LLC bought a new position in shares of UGI in the 4th quarter valued at about $30,000. Finally, CX Institutional purchased a new position in UGI in the first quarter worth about $30,000. 82.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UGI has been the subject of several analyst reports. 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. Wall Street Zen upgraded UGI from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th.

UGI Trading Down 0.1%

Shares of NYSE:UGI traded down $0.04 during trading hours on Thursday, hitting $35.16. 1,497,459 shares of the company's stock traded hands, compared to its average volume of 2,080,471. The firm has a market capitalization of $7.54 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The business has a fifty day moving average price of $35.24 and a 200-day moving average price of $32.57. UGI Corporation has a 1 year low of $22.01 and a 1 year high of $36.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.05.

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

UGI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders 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 yield of 4.27%. UGI's dividend payout ratio (DPR) is 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.