SteelPeak Wealth LLC Increases Stock Holdings in UGI Co. (NYSE:UGI)

SteelPeak Wealth LLC grew its holdings in shares of UGI Co. (NYSE:UGI) by 12.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,088 shares of the utilities provider’s stock after purchasing an additional 1,118 shares during the period. SteelPeak Wealth LLC’s holdings in UGI were worth $256,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in UGI. Jupiter Asset Management Ltd. purchased a new position in UGI in the second quarter valued at $53,371,000. ProShare Advisors LLC grew its position in shares of UGI by 84.9% during the second quarter. ProShare Advisors LLC now owns 2,445,010 shares of the utilities provider’s stock worth $55,991,000 after buying an additional 1,122,766 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of UGI by 112.7% during the second quarter. AQR Capital Management LLC now owns 2,025,457 shares of the utilities provider’s stock worth $46,383,000 after buying an additional 1,073,013 shares during the period. Federated Hermes Inc. raised its holdings in UGI by 28.7% in the second quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock valued at $81,014,000 after acquiring an additional 788,457 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in UGI by 135.7% in the second quarter. Millennium Management LLC now owns 1,096,382 shares of the utilities provider’s stock worth $25,107,000 after acquiring an additional 631,124 shares during the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.

UGI Stock Down 1.9 %

UGI stock opened at $23.46 on Friday. The company’s 50 day moving average is $24.45 and its two-hundred day moving average is $24.18. UGI Co. has a twelve month low of $20.32 and a twelve month high of $26.15. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. The stock has a market cap of $5.04 billion, a P/E ratio of 7.52 and a beta of 1.13.

UGI (NYSE:UGI) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.12. UGI had a net margin of 9.13% and a return on equity of 15.65%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.73 billion. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. Research analysts expect that UGI Co. will post 2.93 earnings per share for the current fiscal year.

UGI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $0.375 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.39%. UGI’s payout ratio is 48.08%.

Wall Street Analyst Weigh In

UGI has been the topic of a number of analyst reports. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company raised their price target on UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th.

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.