UGI Corporation $UGI Stock Acquired by Private Management Group Inc.

Key Points

• Private Management Group increased its UGI stake by 4.4% in the third quarter, adding 46,424 shares to hold 1.10 million shares, valued at about $39.4 million.
• Institutional investors own 82.34% of UGI shares; several firms also expanded positions, including Russell Investments, which raised its stake by 75.7%.
• Analysts’ consensus rating is Moderate Buy, with a $45.80 average price target. UGI shares opened at $37.45, within a 52-week range of $31.65 to $41.34.

Private Management Group Inc. grew its position in shares of UGI Corporation (NYSE:UGI - Free Report) by 4.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,104,312 shares of the utilities provider's stock after acquiring an additional 46,424 shares during the quarter. UGI comprises approximately 1.0% of Private Management Group Inc.'s holdings, making the stock its 24th largest holding. Private Management Group Inc. owned 0.51% of UGI worth $39,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in UGI during the second quarter valued at $73,069,000. Russell Investments Group Ltd. grew its stake in shares of UGI by 75.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,335,508 shares of the utilities provider's stock worth $46,130,000 after buying an additional 575,239 shares in the last quarter. Energy Income Partners LLC grew its stake in shares of UGI by 1.5% in the 2nd quarter. Energy Income Partners LLC now owns 1,302,403 shares of the utilities provider's stock worth $44,985,000 after buying an additional 18,808 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of UGI by 11.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 662,274 shares of the utilities provider's stock worth $22,875,000 after buying an additional 69,054 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of UGI by 38.5% in the 2nd quarter. Wellington Management Group LLP now owns 567,102 shares of the utilities provider's stock worth $19,588,000 after buying an additional 157,640 shares during the last quarter. 82.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of UGI from a "hold" rating to a "sell" rating in a research report on Saturday. Scotiabank initiated coverage on UGI in a research report on Tuesday, September 29th. They issued an "outperform" rating and a $46.00 price target for the company. Zacks Research raised UGI from a "strong sell" rating to a "hold" rating in a research note on Monday, October 26th. Wells Fargo & Company reduced their price objective on UGI from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Huntington assumed coverage on UGI in a research report on Monday, September 14th. They set an "outperform" rating and a $54.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, UGI has a consensus rating of "Moderate Buy" and a consensus target price of $45.80.

UGI Stock Up 1.1%

NYSE UGI opened at $37.45 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The company has a fifty day moving average of $37.69 and a two-hundred day moving average of $36.72. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 13.05 and a beta of 0.94. UGI Corporation has a 52 week low of $31.65 and a 52 week high of $41.34.

UGI Profile

UGI Corporation is a diversified energy company based in King of Prussia, Pennsylvania. Its businesses distribute and market natural gas, propane and other energy products, and provide related services to residential, commercial and industrial customers.

In the United States, UGI operates regulated natural gas and electric utilities in Pennsylvania, supplies natural gas and electricity through its energy-marketing business, and owns energy-related infrastructure. Its propane operations include AmeriGas, which serves customers across the country.

UGI also distributes liquefied petroleum gas in Europe through UGI International.

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