Wealthedge Investment Advisors LLC Buys New Position in UGI Co. (NYSE:UGI)

Wealthedge Investment Advisors LLC bought a new position in shares of UGI Co. (NYSE:UGI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,267 shares of the utilities provider's stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of UGI in the fourth quarter worth $103,115,000. FMR LLC increased its position in shares of UGI by 22.4% in the fourth quarter. FMR LLC now owns 11,529,202 shares of the utilities provider's stock worth $325,469,000 after purchasing an additional 2,110,337 shares during the period. Corvex Management LP bought a new position in UGI in the fourth quarter valued at about $55,354,000. Pictet Asset Management Holding SA grew its position in UGI by 5,776.6% in 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 during the last quarter. Finally, Neuberger Berman Group LLC grew its position in UGI by 5,215.3% in 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 during the last quarter. Institutional investors and hedge funds own 82.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho lifted their target price on UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded UGI from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th.

UGI Trading Up 0.9%

Shares of NYSE:UGI traded up $0.31 during midday trading on Thursday, hitting $35.92. 1,763,668 shares of the stock were exchanged, compared to its average volume of 2,221,498. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 2.26 and a beta of 1.05. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.82 and a current ratio of 1.00. The business's 50-day moving average price is $33.40 and its 200 day moving average price is $31.14. UGI Co. has a 12 month low of $22.01 and a 12 month high of $36.35.

UGI (NYSE:UGI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.41. The company had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $3.26 billion. UGI had a return on equity of 15.19% and a net margin of 7.73%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.97 earnings per share. Analysts predict that UGI Co. will post 3.02 earnings per share for the current year.

UGI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, June 16th. UGI's dividend payout ratio (DPR) is currently 61.73%.

UGI Company Profile

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.