Bank of New York Mellon Corp Buys 56,777 Shares of UGI Corporation (NYSE:UGI)

Bank of New York Mellon Corp boosted its position in UGI Corporation (NYSE:UGI - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,592,251 shares of the utilities provider's stock after purchasing an additional 56,777 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.21% of UGI worth $85,726,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of UGI during the fourth quarter valued at $103,115,000. FMR LLC increased its holdings in shares of UGI by 22.4% during the fourth quarter. FMR LLC now owns 11,529,202 shares of the utilities provider's stock valued at $325,469,000 after acquiring an additional 2,110,337 shares in the last quarter. Corvex Management LP bought a new position in shares of UGI during the fourth quarter valued at $55,354,000. Pictet Asset Management Holding SA increased its holdings in shares of UGI by 5,776.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,739,419 shares of the utilities provider's stock valued at $49,104,000 after acquiring an additional 1,709,820 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of UGI by 5,215.3% during the fourth quarter. Neuberger Berman Group LLC now owns 1,560,265 shares of the utilities provider's stock valued at $44,046,000 after acquiring an additional 1,530,911 shares in the last quarter. Institutional investors own 82.34% of the company's stock.

Analyst Upgrades and Downgrades

UGI has been the topic of several recent analyst reports. Wall Street Zen raised UGI from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Mizuho increased their price objective on UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th.

UGI Stock Performance

Shares of UGI stock traded up $0.71 during trading on Monday, hitting $36.29. 1,414,345 shares of the company's stock traded hands, compared to its average volume of 2,011,661. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.05. UGI Corporation has a 1 year low of $23.09 and a 1 year high of $36.74. The stock has a market capitalization of $7.78 billion, a P/E ratio of 14.93, a PEG ratio of 2.19 and a beta of 1.05. The business has a 50-day simple moving average of $35.59 and a 200-day simple moving average of $33.02.

UGI (NYSE:UGI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.41. The business had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $3.26 billion. UGI had a return on equity of 16.21% and a net margin of 7.28%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $1.97 earnings per share. As a group, analysts forecast that UGI Corporation will post 3.02 EPS for the current year.

UGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 16th were given a $0.375 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.50 annualized dividend and a yield of 4.13%. UGI's payout ratio 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.