UGI (NYSE:UGI) Issues Earnings Results, Beats Expectations By $0.32 EPS

UGI (NYSE:UGI - Get Free Report) issued its earnings results on Wednesday. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.32, Briefing.com reports. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $3.07 billion. UGI had a negative net margin of 5.48% and a positive return on equity of 14.09%. The business's revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.68 earnings per share. UGI updated its FY24 guidance to $2.70-3.00 EPS and its FY 2024 guidance to 2.700-3.000 EPS.

UGI Stock Performance

UGI stock traded down $1.66 during midday trading on Thursday, reaching $24.23. 5,389,818 shares of the company traded hands, compared to its average volume of 2,085,750. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of -11.01 and a beta of 1.13. The business has a 50 day moving average of $24.63 and a two-hundred day moving average of $23.46. UGI has a 12 month low of $20.19 and a 12 month high of $33.14. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.98 and a quick ratio of 0.79.

UGI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.50 dividend on an annualized basis and a yield of 6.19%. UGI's dividend payout ratio (DPR) is -68.18%.

Analyst Ratings Changes

Several research analysts have recently issued reports on UGI shares. Mizuho upped their target price on shares of UGI from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 17th. StockNews.com downgraded shares of UGI from a "buy" rating to a "hold" rating in a research note on Thursday, April 18th. Wells Fargo & Company downgraded shares of UGI from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $27.00 to $28.00 in a research note on Thursday, March 14th. Finally, TheStreet upgraded shares of UGI from a "d+" rating to a "c-" rating in a research note on Wednesday, February 21st.

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.