Gabelli Funds LLC Purchases 28,000 Shares of UGI Co. (NYSE:UGI)

Gabelli Funds LLC grew its position in shares of UGI Co. (NYSE:UGI) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 548,100 shares of the utilities provider’s stock after purchasing an additional 28,000 shares during the period. Gabelli Funds LLC owned about 0.26% of UGI worth $13,450,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American National Bank bought a new stake in UGI during the first quarter worth about $27,000. Concord Wealth Partners lifted its stake in UGI by 100.0% during the first quarter. Concord Wealth Partners now owns 1,274 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 637 shares during the last quarter. GAMMA Investing LLC bought a new stake in UGI during the fourth quarter worth about $32,000. Transcendent Capital Group LLC bought a new stake in UGI during the fourth quarter worth about $39,000. Finally, Neo Ivy Capital Management purchased a new position in shares of UGI in the fourth quarter worth about $40,000. Institutional investors own 82.34% of the company’s stock.

UGI Price Performance

NYSE:UGI traded up $0.15 during mid-day trading on Friday, reaching $24.64. 1,302,105 shares of the company’s stock traded hands, compared to its average volume of 1,799,976. UGI Co. has a 12-month low of $20.19 and a 12-month high of $27.77. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. The company has a 50 day moving average price of $23.52 and a 200-day moving average price of $23.99.

UGI (NYSE:UGI) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.32. UGI had a positive return on equity of 15.78% and a negative net margin of 0.89%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the previous year, the business earned $1.68 EPS. UGI’s revenue was down 20.6% compared to the same quarter last year. As a group, research analysts anticipate that UGI Co. will post 2.92 earnings per share for the current year.

UGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, June 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.09%. UGI’s dividend payout ratio (DPR) is -365.84%.

Analysts Set New Price Targets

UGI has been the topic of several analyst reports. StockNews.com upgraded UGI from a “hold” rating to a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company decreased their price objective on UGI from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 3rd. Finally, Mizuho boosted their price target on UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th.

UGI 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.