Penn Mutual Asset Management Buys New Stake in UGI Co. (NYSE:UGI)

Penn Mutual Asset Management bought a new position in UGI Co. (NYSE:UGI) during the 3rd quarter, Holdings Channel reports. The fund bought 8,500 shares of the utilities provider’s stock, valued at approximately $213,000.

Several other institutional investors have also added to or reduced their stakes in UGI. Easterly Investment Partners LLC boosted its position in shares of UGI by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 59,238 shares of the utilities provider’s stock valued at $1,482,000 after acquiring an additional 450 shares during the last quarter. MetLife Investment Management LLC lifted its position in UGI by 0.4% during the third quarter. MetLife Investment Management LLC now owns 110,875 shares of the utilities provider’s stock valued at $2,774,000 after purchasing an additional 489 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UGI by 24.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,627 shares of the utilities provider’s stock worth $60,000 after buying an additional 512 shares in the last quarter. Signaturefd LLC increased its holdings in shares of UGI by 7.2% in the 3rd quarter. Signaturefd LLC now owns 7,885 shares of the utilities provider’s stock worth $197,000 after buying an additional 531 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of UGI by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 22,034 shares of the utilities provider’s stock valued at $551,000 after buying an additional 541 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Wall Street Analysts Forecast Growth

UGI has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on shares of UGI in a research report on Friday, November 22nd. They set a “buy” rating and a $28.00 price objective on the stock. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Mizuho upgraded UGI from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $30.00 in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, UGI currently has an average rating of “Moderate Buy” and an average target price of $28.33.

UGI Price Performance

UGI opened at $29.15 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.48. The business’s fifty day simple moving average is $25.16 and its 200-day simple moving average is $24.33. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 23.51 and a beta of 1.21. UGI Co. has a 12-month low of $21.51 and a 12-month high of $30.48.

UGI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.50 annualized dividend and a dividend yield of 5.15%. UGI’s payout ratio is presently 120.97%.

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.