UGI Corp (UGI) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System trimmed its holdings in UGI Corp (NYSE:UGI) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,490 shares of the utilities provider’s stock after selling 6,293 shares during the period. California State Teachers Retirement System’s holdings in UGI were worth $15,434,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC purchased a new position in shares of UGI in the first quarter valued at about $28,000. Parkside Financial Bank & Trust purchased a new position in shares of UGI in the fourth quarter valued at about $29,000. Stone House Investment Management LLC purchased a new position in shares of UGI in the first quarter valued at about $39,000. FNY Investment Advisers LLC lifted its position in shares of UGI by 57.8% in the first quarter. FNY Investment Advisers LLC now owns 781 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 286 shares in the last quarter. Finally, Security National Trust Co. lifted its position in shares of UGI by 757.1% in the first quarter. Security National Trust Co. now owns 900 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 795 shares in the last quarter. Institutional investors and hedge funds own 79.67% of the company’s stock.
In related news, CEO John L. Walsh sold 50,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $54.19, for a total value of $2,709,500.00. Following the sale, the chief executive officer now directly owns 502,226 shares in the company, valued at $27,215,626.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank S. Hermance bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $54.10 per share, for a total transaction of $5,410,000.00. Following the completion of the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $13,525,000. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.
UGI (NYSE:UGI) last posted its earnings results on Monday, May 6th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.13). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. UGI had a return on equity of 10.31% and a net margin of 5.14%. On average, equities research analysts anticipate that UGI Corp will post 2.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.30 dividend. This is an increase from UGI’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 13th. UGI’s payout ratio is currently 37.96%.
Several equities analysts have recently commented on the company. ValuEngine upgraded UGI from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Barclays reiterated a “sell” rating and issued a $51.00 target price on shares of UGI in a research report on Thursday, April 4th. Zacks Investment Research upgraded UGI from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Bank of America upgraded UGI from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Finally, Jefferies Financial Group upgraded UGI from a “hold” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $60.00 in a research report on Friday, April 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. UGI currently has a consensus rating of “Buy” and an average target price of $58.00.
UGI Corporation 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 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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