Millennium Management LLC Acquires 485,802 Shares of UGI Co. (NYSE:UGI)

Millennium Management LLC lifted its stake in UGI Co. (NYSE:UGI - Free Report) by 1,634.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 515,518 shares of the utilities provider's stock after acquiring an additional 485,802 shares during the quarter. Millennium Management LLC owned approximately 0.24% of UGI worth $14,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of UGI by 17.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,066 shares of the utilities provider's stock worth $2,034,000 after acquiring an additional 10,751 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of UGI by 26.4% in the fourth quarter. Lazard Asset Management LLC now owns 16,297 shares of the utilities provider's stock worth $460,000 after acquiring an additional 3,402 shares during the last quarter. Invenomic Capital Management LP increased its stake in shares of UGI by 118.2% in the fourth quarter. Invenomic Capital Management LP now owns 614,910 shares of the utilities provider's stock worth $17,359,000 after acquiring an additional 333,138 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of UGI in the fourth quarter worth $4,940,000. Finally, Focus Partners Wealth acquired a new stake in shares of UGI in the 4th quarter valued at $331,000. 82.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of 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 raised shares of UGI from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th.

Insider Buying and Selling

In other news, insider Michael Sharp acquired 4,806 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $33.30 per share, with a total value of $160,039.80. Following the completion of the purchase, the insider now owns 4,806 shares of the company's stock, valued at $160,039.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

UGI Stock Performance

Shares of UGI stock traded up $0.51 during trading hours on Friday, reaching $36.10. 1,320,291 shares of the company's stock were exchanged, compared to its average volume of 2,231,180. The business has a fifty day moving average price of $33.19 and a 200-day moving average price of $30.85. The stock has a market capitalization of $7.74 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.26 and a beta of 1.05. The company has a quick ratio of 0.82, a current ratio of 1.00 and a debt-to-equity ratio of 1.44. UGI Co. has a fifty-two week low of $22.01 and a fifty-two week high of $36.35.

UGI (NYSE:UGI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.41. UGI had a net margin of 7.73% and a return on equity of 15.19%. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Analysts predict that UGI Co. will post 3.02 EPS for the current fiscal year.

UGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, June 16th. UGI's payout ratio is 61.73%.

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.