Wedge Capital Management L L P NC Has $12.43 Million Stock Position in UGI Co. (NYSE:UGI)

Wedge Capital Management L L P NC cut its position in shares of UGI Co. (NYSE:UGI) by 24.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,458 shares of the utilities provider’s stock after selling 167,119 shares during the quarter. Wedge Capital Management L L P NC owned about 0.24% of UGI worth $12,434,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of UGI. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of UGI by 503.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,904,763 shares of the utilities provider’s stock worth $66,810,000 after buying an additional 2,423,713 shares during the period. Federated Hermes Inc. boosted its stake in UGI by 67.0% during the third quarter. Federated Hermes Inc. now owns 2,372,182 shares of the utilities provider’s stock worth $54,560,000 after acquiring an additional 951,405 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in UGI by 309.1% during the third quarter. Qube Research & Technologies Ltd now owns 1,175,347 shares of the utilities provider’s stock worth $27,033,000 after acquiring an additional 888,072 shares in the last quarter. Vanguard Group Inc. boosted its stake in UGI by 3.1% during the third quarter. Vanguard Group Inc. now owns 26,271,972 shares of the utilities provider’s stock worth $604,255,000 after acquiring an additional 781,929 shares in the last quarter. Finally, Covalis Capital LLP bought a new position in UGI during the third quarter worth $16,279,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

UGI Stock Performance

UGI stock traded up $0.18 during mid-day trading on Tuesday, hitting $25.66. The company had a trading volume of 188,207 shares, compared to its average volume of 2,029,925. The stock’s fifty day moving average price is $24.41 and its two-hundred day moving average price is $23.26. UGI Co. has a 12 month low of $20.19 and a 12 month high of $35.14. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.79 and a current ratio of 0.98. The firm has a market cap of $5.38 billion, a PE ratio of -11.51 and a beta of 1.16.

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

UGI Dividend Announcement

The company 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. The ex-dividend date was Thursday, March 14th. This represents a $1.50 annualized dividend and a yield of 5.85%. UGI’s dividend payout ratio is currently -68.18%.

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.