The Manufacturers Life Insurance Company Makes New $73.07 Million Investment in UGI Corporation $UGI

Key Points

• The Manufacturers Life Insurance Company acquired 2.12 million UGI shares valued at approximately $73.1 million, representing a 0.99% stake. Institutional investors collectively own 82.34% of UGI.
• UGI reported quarterly EPS of $(0.20), missing the $(0.08) consensus estimate, while revenue of $1.33 billion also fell short of expectations.
• UGI declared a quarterly dividend of $0.375 per share, equivalent to a $1.50 annualized payout and a 3.9% yield. Analysts maintain a consensus “Hold” rating with a $42 price target.

The Manufacturers Life Insurance Company bought a new position in shares of UGI Corporation (NYSE:UGI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,115,491 shares of the utilities provider's stock, valued at approximately $73,069,000. The Manufacturers Life Insurance Company owned 0.99% of UGI at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UGI. Captrust Financial Advisors increased its position in shares of UGI by 11.4% during the fourth quarter. Captrust Financial Advisors now owns 3,191,444 shares of the utilities provider's stock worth $119,456,000 after buying an additional 327,511 shares during the period. Russell Investments Group Ltd. boosted its position in 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. Energy Income Partners LLC grew its holdings in UGI by 1.5% during the 2nd quarter. Energy Income Partners LLC now owns 1,302,403 shares of the utilities provider's stock worth $44,985,000 after acquiring an additional 18,808 shares during the period. Goldman Sachs Group Inc. grew its holdings in UGI by 14.3% during the 1st 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of UGI by 17.2% in the 1st 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 acquiring an additional 115,409 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors.

UGI Trading Up 0.5%

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

UGI (NYSE:UGI - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.50 billion. UGI had a net margin of 9.20% and a return on equity of 12.80%. As a group, research analysts predict that UGI Corporation will post 2.85 earnings per share for the current fiscal year.

UGI Dividend Announcement

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

Insider Transactions at UGI

In related news, insider Kathleen Shea-Ballay sold 25,360 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $33.62, for a total transaction of $852,603.20. Following the completion of the sale, the insider owned 25,360 shares in the company, valued at approximately $852,603.20. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their target price on UGI from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Wall Street Zen lowered UGI from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of UGI from a "buy (b)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of UGI from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $40.00 target price (down from $45.00) on shares of UGI in a research note 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 stock. Based on data from MarketBeat.com, UGI presently has a consensus rating of "Hold" and a consensus price target of $42.00.

UGI 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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