UGI Corp (UGI) Stake Increased by Putnam Investments LLC
Putnam Investments LLC grew its stake in UGI Corp (NYSE:UGI) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,314 shares of the utilities provider’s stock after buying an additional 3,893 shares during the period. Putnam Investments LLC owned 0.12% of UGI worth $11,055,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Glen Harbor Capital Management LLC raised its position in UGI by 3.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 27,880 shares of the utilities provider’s stock worth $1,452,000 after buying an additional 1,054 shares during the last quarter. Daiwa Securities Group Inc. raised its position in UGI by 21.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,290 shares of the utilities provider’s stock worth $328,000 after buying an additional 1,090 shares during the last quarter. Koch Industries Inc. grew its stake in shares of UGI by 20.1% during the 1st quarter. Koch Industries Inc. now owns 6,983 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 1,169 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of UGI by 2.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 53,760 shares of the utilities provider’s stock worth $2,388,000 after purchasing an additional 1,320 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in shares of UGI by 0.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 307,272 shares of the utilities provider’s stock worth $13,649,000 after purchasing an additional 1,322 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.
UGI has been the topic of a number of recent analyst reports. ValuEngine raised shares of UGI from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research cut shares of UGI from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. Barclays upped their price target on shares of UGI from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 11th. Bank of America increased their price objective on shares of UGI from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $54.00 price objective on shares of UGI in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.20.
Shares of UGI stock traded down $0.34 during mid-day trading on Friday, hitting $53.39. 569,838 shares of the stock were exchanged, compared to its average volume of 821,955. The stock has a market capitalization of $9.65 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.50 and a beta of 0.50. UGI Corp has a twelve month low of $42.51 and a twelve month high of $56.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.15 and a quick ratio of 0.99.
UGI (NYSE:UGI) last announced its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.04). UGI had a return on equity of 11.89% and a net margin of 11.09%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. The company’s revenue was up 24.9% on a year-over-year basis. As a group, analysts forecast that UGI Corp will post 2.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.04 annualized dividend and a yield of 1.95%. UGI’s payout ratio is 45.41%.
UGI Company Profile
UGI Corporation distributes, stores, transports, and markets energy products and related services in the United States and internationally. It distributes propane to approximately 1.9 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers in 50 states through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems.
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