Wedge Capital Management L L P NC Sells 167,119 Shares of UGI Co. (NYSE:UGI)

Wedge Capital Management L L P NC reduced its stake in UGI Co. (NYSE:UGI) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 505,458 shares of the utilities provider’s stock after selling 167,119 shares during the period. Wedge Capital Management L L P NC’s holdings in UGI were worth $12,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its position in shares of UGI by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 91,762 shares of the utilities provider’s stock worth $2,111,000 after acquiring an additional 470 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of UGI by 2.5% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 21,623 shares of the utilities provider’s stock worth $497,000 after acquiring an additional 526 shares in the last quarter. Jacobi Capital Management LLC grew its position in UGI by 1.9% in the 3rd quarter. Jacobi Capital Management LLC now owns 33,036 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 621 shares in the last quarter. Fulton Bank N.A. grew its position in UGI by 3.6% in the 4th quarter. Fulton Bank N.A. now owns 18,171 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 634 shares in the last quarter. Finally, United Services Automobile Association grew its position in UGI by 7.3% in the 3rd quarter. United Services Automobile Association now owns 14,521 shares of the utilities provider’s stock worth $334,000 after purchasing an additional 983 shares in the last quarter. 82.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UGI. TheStreet raised shares of UGI from a “d+” rating to a “c-” rating in a research report on Wednesday, February 21st. Wells Fargo & Company downgraded shares of UGI from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $27.00 to $28.00 in a report on Thursday, March 14th. StockNews.com downgraded shares of UGI from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Mizuho raised their price target on shares of UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th.

UGI Trading Up 0.7 %

Shares of UGI stock traded up $0.18 during mid-day trading on Tuesday, reaching $25.66. The stock had a trading volume of 188,207 shares, compared to its average volume of 2,029,925. The stock’s 50-day moving average price is $24.41 and its two-hundred day moving average price is $23.26. UGI Co. has a 52-week low of $20.19 and a 52-week high of $35.14. The firm has a market capitalization of $5.38 billion, a PE ratio of -11.51 and a beta of 1.16. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.59.

UGI (NYSE:UGI) last announced its earnings results on Wednesday, January 31st. The utilities provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.08. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.98 billion. UGI had a negative net margin of 5.48% and a positive return on equity of 14.09%. Equities analysts expect that UGI Co. will post 2.9 earnings per share for the current fiscal year.

UGI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 5.85%. The ex-dividend date was Thursday, March 14th. UGI’s payout ratio is currently -68.18%.

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.