M&T Bank Corp Has $2.59 Million Holdings in UGI Corporation (NYSE:UGI)

M&T Bank Corp reduced its holdings in UGI Corporation (NYSE:UGI - Free Report) by 51.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,220 shares of the utilities provider's stock after selling 82,142 shares during the quarter. M&T Bank Corp's holdings in UGI were worth $2,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UGI. Altshuler Shaham Ltd bought a new position in UGI in the 4th quarter worth approximately $25,000. Bessemer Group Inc. raised its position in UGI by 216.7% in the 4th quarter. Bessemer Group Inc. now owns 893 shares of the utilities provider's stock worth $25,000 after purchasing an additional 611 shares during the last quarter. GeoWealth Management LLC bought a new position in UGI in the 4th quarter worth approximately $27,000. Flagship Wealth Advisors LLC bought a new position in UGI in the 4th quarter worth approximately $30,000. Finally, CX Institutional bought a new position in UGI in the 1st quarter worth approximately $30,000. 82.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

UGI Stock Performance

Shares of UGI stock opened at $35.57 on Friday. The firm has a fifty day moving average of $35.59 and a two-hundred day moving average of $32.95. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 2.20 and a beta of 1.05. UGI Corporation has a 52 week low of $23.09 and a 52 week high of $36.74. 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 (NYSE:UGI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.80 by $0.41. The company had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $3.26 billion. UGI had a net margin of 7.28% and a return on equity of 16.21%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 EPS. As a group, equities research analysts predict that UGI Corporation will post 3.02 EPS for the current year.

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Monday, June 16th. UGI's dividend payout ratio (DPR) is 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.

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