Cornercap Investment Counsel Inc. Cuts Holdings in UGI Co. (NYSE:UGI)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of UGI Co. (NYSE:UGI) by 55.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,753 shares of the utilities provider’s stock after selling 25,699 shares during the period. Cornercap Investment Counsel Inc.’s holdings in UGI were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Easterly Investment Partners LLC increased its stake in UGI by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 59,238 shares of the utilities provider’s stock valued at $1,482,000 after purchasing an additional 450 shares in the last quarter. GAMMA Investing LLC increased its stake in UGI by 24.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,627 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 512 shares in the last quarter. Signaturefd LLC increased its stake in UGI by 7.2% in the 3rd quarter. Signaturefd LLC now owns 7,885 shares of the utilities provider’s stock valued at $197,000 after purchasing an additional 531 shares in the last quarter. Fulton Bank N.A. increased its stake in UGI by 3.9% in the 2nd quarter. Fulton Bank N.A. now owns 14,983 shares of the utilities provider’s stock valued at $343,000 after purchasing an additional 558 shares in the last quarter. Finally, V2 Financial group LLC increased its stake in UGI by 4.2% in the 3rd quarter. V2 Financial group LLC now owns 13,966 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 567 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

UGI Price Performance

UGI stock opened at $24.12 on Friday. UGI Co. has a 52-week low of $21.47 and a 52-week high of $26.15. The stock’s fifty day simple moving average is $24.25 and its 200-day simple moving average is $24.08. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 7.73 and a beta of 1.13.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UGI. Mizuho raised UGI from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $27.00 to $30.00 in a research note on Friday. StockNews.com downgraded UGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company raised their price target on UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th.

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.