Miller Value Partners LLC Buys New Shares in UGI Corporation $UGI

Key Points

• Miller Value Partners acquired 121,000 shares of UGI Corporation worth approximately $4.18 million, giving the utility stock a 1.0% portfolio weighting. Institutional investors collectively own 82.34% of UGI.
• UGI reported weaker-than-expected quarterly results, posting a loss of $0.20 per share versus the $0.08 expected, while revenue totaled $1.33 billion against estimates of $1.50 billion.
• UGI declared a quarterly dividend of $0.375 per share, equal to a 3.9% annualized yield. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $42.

Miller Value Partners LLC purchased a new position in UGI Corporation (NYSE:UGI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 121,000 shares of the utilities provider's stock, valued at approximately $4,179,000. UGI comprises about 1.0% of Miller Value Partners LLC's investment portfolio, making the stock its 28th largest position. Miller Value Partners LLC owned approximately 0.06% of UGI at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in UGI. Fifth Third Wealth Advisors LLC grew its stake in shares of UGI by 4.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,733 shares of the utilities provider's stock valued at $282,000 after buying an additional 303 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of UGI by 45.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,268 shares of the utilities provider's stock valued at $44,000 after acquiring an additional 397 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of UGI by 4.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 9,842 shares of the utilities provider's stock valued at $368,000 after acquiring an additional 456 shares during the last quarter. Parallel Advisors LLC boosted its holdings in UGI by 17.0% during the 4th quarter. Parallel Advisors LLC now owns 4,992 shares of the utilities provider's stock valued at $187,000 after acquiring an additional 724 shares during the period. Finally, Chase Investment Counsel Corp boosted its holdings in UGI by 3.5% during the 2nd quarter. Chase Investment Counsel Corp now owns 29,656 shares of the utilities provider's stock valued at $1,024,000 after acquiring an additional 993 shares during the period. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

UGI Price Performance

UGI opened at $38.38 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.22 and a current ratio of 1.44. The stock has a market capitalization of $8.23 billion, a PE ratio of 12.83 and a beta of 0.93. The stock's 50 day moving average price is $35.84 and its 200-day moving average price is $36.10. UGI Corporation has a 52-week low of $31.62 and a 52-week high of $41.34.

UGI (NYSE:UGI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.50 billion. UGI had a return on equity of 12.80% and a net margin of 9.20%. On average, equities research analysts predict that UGI Corporation will post 2.85 EPS for the current year.

UGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. UGI's dividend payout ratio (DPR) is currently 50.17%.

Insider Buying and Selling at UGI

In other news, insider Kathleen Shea-Ballay sold 25,360 shares of UGI stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $33.62, for a total transaction of $852,603.20. Following the sale, the insider owned 25,360 shares of the company's stock, valued at approximately $852,603.20. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on UGI. Wall Street Zen cut UGI from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Jefferies Financial Group reissued a "hold" rating and set a $40.00 price objective (down from $45.00) on shares of UGI in a research note on Thursday, April 30th. Zacks Research cut shares of UGI from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Wells Fargo & Company decreased their target price on shares of UGI from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings cut shares of UGI from a "buy (b)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UGI has an average rating of "Hold" and an average target price of $42.00.

UGI Company Profile

UGI Corporation NYSE: UGI is a publicly traded energy distribution company headquartered in King of Prussia, Pennsylvania. Founded in 1882 as the United Gas Improvement Company, UGI has grown into a diversified provider of energy products and services. The company's operations are organized into three primary segments—AmeriGas Propane, UGI Utilities and UGI International—each focused on the delivery of propane, natural gas and related services to residential, commercial and industrial customers.

AmeriGas Propane, UGI's largest segment, is the leading retail propane distributor in the United States with a network of dealers serving customers in all 50 states.

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