NewEdge Wealth LLC Takes Position in UGI Corporation $UGI

Key Points

• NewEdge Wealth initiated a position in UGI during the second quarter, purchasing 102,396 shares valued at approximately $3.5 million. Institutional investors collectively own 82.34% of the company.
• Analyst sentiment is mixed but trends cautious: UGI has an average “Hold” rating and a consensus price target of $42, while several firms recently downgraded the stock or reduced their targets.
• UGI reported a quarterly loss of $0.20 per share, missing expectations, and revenue of $1.33 billion versus the $1.50 billion consensus estimate. The company maintained its $0.375 quarterly dividend, implying a 4.0% annualized yield.

NewEdge Wealth LLC bought a new stake in UGI Corporation (NYSE:UGI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 102,396 shares of the utilities provider's stock, valued at approximately $3,537,000.

Other large investors also recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in UGI by 34,940.4% during the second quarter. Captrust Financial Advisors now owns 2,576,169 shares of the utilities provider's stock worth $93,824,000 after purchasing an additional 2,568,817 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of UGI by 75.7% during the second quarter. Russell Investments Group Ltd. now owns 1,335,508 shares of the utilities provider's stock valued at $46,130,000 after acquiring an additional 575,239 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in UGI by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 930,787 shares of the utilities provider's stock worth $30,781,000 after acquiring an additional 116,372 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in UGI by 17.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 785,327 shares of the utilities provider's stock worth $25,971,000 after purchasing an additional 115,409 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in UGI in the fourth quarter worth $2,708,000. 82.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other UGI news, insider Kathleen Shea-Ballay sold 25,360 shares of the business's stock in a transaction on 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 $852,603.20. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

UGI Trading Down 1.6%

Shares of UGI opened at $37.92 on Friday. The business has a 50-day moving average of $35.63 and a 200 day moving average of $36.14. UGI Corporation has a fifty-two week low of $31.62 and a fifty-two week high of $41.34. The firm has a market cap of $8.13 billion, a P/E ratio of 12.68 and a beta of 0.93. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.22 and a current ratio of 1.44.

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

UGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.50 annualized dividend and a yield of 4.0%. UGI's dividend payout ratio (DPR) is 50.17%.

About UGI

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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