UGI (NYSE:UGI) Announces Quarterly Earnings Results

UGI (NYSE:UGI) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.12, Briefing.com reports. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.73 billion. UGI had a positive return on equity of 15.78% and a negative net margin of 0.89%. The company’s quarterly revenue was down 16.8% on a year-over-year basis. UGI updated its FY24 guidance to $2.70 to $3.00 EPS and its FY 2024 guidance to 2.700-3.000 EPS.

UGI Trading Up 0.1 %

UGI traded up $0.03 on Friday, reaching $23.45. 2,175,178 shares of the company’s stock were exchanged, compared to its average volume of 2,236,381. UGI has a twelve month low of $20.19 and a twelve month high of $26.15. The company’s 50 day moving average is $23.48 and its 200-day moving average is $24.07. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.01 and a current ratio of 1.21. The company has a market cap of $4.92 billion, a price-to-earnings ratio of -57.20 and a beta of 1.13.

UGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Monday, September 16th. UGI’s dividend payout ratio is currently -365.85%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UGI. Wells Fargo & Company decreased their price target on UGI from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. Mizuho boosted 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. Finally, StockNews.com downgraded shares of UGI from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.