Renaissance Technologies LLC Buys 196,000 Shares of UGI Corp (UGI)

Renaissance Technologies LLC raised its stake in shares of UGI Corp (NYSE:UGI) by 8.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,420,650 shares of the utilities provider’s stock after purchasing an additional 196,000 shares during the quarter. Renaissance Technologies LLC’s holdings in UGI were worth $134,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UGI. Riverhead Capital Management LLC raised its position in shares of UGI by 18.6% during the 3rd quarter. Riverhead Capital Management LLC now owns 17,201 shares of the utilities provider’s stock valued at $954,000 after acquiring an additional 2,700 shares during the last quarter. People s United Financial Inc. bought a new stake in shares of UGI during the 3rd quarter valued at $294,000. Kepos Capital LP raised its position in shares of UGI by 5.0% during the 3rd quarter. Kepos Capital LP now owns 121,291 shares of the utilities provider’s stock valued at $6,729,000 after acquiring an additional 5,789 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of UGI by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 776,566 shares of the utilities provider’s stock valued at $43,084,000 after acquiring an additional 122,925 shares during the last quarter. Finally, GAM Holding AG raised its position in shares of UGI by 14.7% during the 3rd quarter. GAM Holding AG now owns 38,357 shares of the utilities provider’s stock valued at $2,128,000 after acquiring an additional 4,926 shares during the last quarter. 79.38% of the stock is currently owned by institutional investors.

In other news, Director Anne Pol sold 3,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $57.24, for a total value of $171,720.00. Following the completion of the transaction, the director now owns 8,478 shares of the company’s stock, valued at approximately $485,280.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ann P. Kelly sold 9,595 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $56.80, for a total transaction of $544,996.00. The disclosure for this sale can be found here. Insiders sold a total of 109,279 shares of company stock valued at $6,221,941 in the last three months. 2.36% of the stock is owned by company insiders.

Several analysts have commented on the stock. ValuEngine upgraded shares of UGI from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research reiterated a “sell” rating on shares of UGI in a research report on Saturday, November 17th. Bank of America upped their target price on shares of UGI from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, October 29th. Barclays set a $53.00 target price on shares of UGI and gave the company a “sell” rating in a research report on Friday, October 12th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $54.00 target price on shares of UGI in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.60.

Shares of UGI stock opened at $58.96 on Friday. UGI Corp has a 12-month low of $42.51 and a 12-month high of $59.31. The firm has a market capitalization of $10.18 billion, a PE ratio of 20.33, a PEG ratio of 2.54 and a beta of 0.55. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.09 and a quick ratio of 0.91.

UGI (NYSE:UGI) last announced its quarterly earnings results on Monday, November 12th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.13. UGI had a net margin of 11.11% and a return on equity of 12.12%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. The firm’s revenue was up 14.3% on a year-over-year basis. Equities analysts expect that UGI Corp will post 2.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, December 13th. UGI’s dividend payout ratio (DPR) is 37.96%.

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About UGI

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for UGI (NYSE:UGI)

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