Manning & Napier Advisors LLC Acquires Shares of 91,191 UGI Co. (NYSE:UGI)

Manning & Napier Advisors LLC bought a new position in shares of UGI Co. (NYSE:UGI) during the second quarter, Holdings Channel.com reports. The fund bought 91,191 shares of the utilities provider’s stock, valued at approximately $2,088,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of UGI by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 26,897,100 shares of the utilities provider’s stock valued at $661,669,000 after buying an additional 625,128 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in UGI by 1.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,746,241 shares of the utilities provider’s stock valued at $89,962,000 after acquiring an additional 45,630 shares in the last quarter. Federated Hermes Inc. boosted its stake in UGI by 5.5% during the 4th quarter. Federated Hermes Inc. now owns 2,502,192 shares of the utilities provider’s stock valued at $61,554,000 after purchasing an additional 130,010 shares during the last quarter. Norges Bank bought a new position in UGI during the 4th quarter valued at $46,034,000. Finally, Russell Investments Group Ltd. grew its stake in shares of UGI by 5.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,757,212 shares of the utilities provider’s stock worth $43,121,000 after acquiring an additional 83,219 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors.

UGI Price Performance

NYSE:UGI traded up $0.03 during trading hours on Friday, hitting $23.45. The stock had a trading volume of 2,174,772 shares, compared to its average volume of 2,236,381. The company has a 50 day simple moving average of $23.52 and a two-hundred day simple moving average of $24.07. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -57.12 and a beta of 1.13. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.01. UGI Co. has a one year low of $20.19 and a one year high of $26.15.

UGI (NYSE:UGI) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.11. UGI had a positive return on equity of 15.78% and a negative net margin of 0.89%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.73 billion. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. Research analysts forecast that UGI Co. will post 2.92 earnings per share for the current fiscal year.

UGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, September 16th. This represents a $1.50 annualized dividend and a yield of 6.40%. UGI’s payout ratio is presently -365.84%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of UGI from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 3rd. StockNews.com downgraded UGI from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Mizuho lifted their price target on shares of UGI from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th.

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.