Franklin Resources Inc. Buys 61,265 Shares of UGI Co. (NYSE:UGI)

Franklin Resources Inc. increased its position in UGI Co. (NYSE:UGI) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 630,604 shares of the utilities provider’s stock after purchasing an additional 61,265 shares during the period. Franklin Resources Inc.’s holdings in UGI were worth $15,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of UGI during the third quarter valued at approximately $278,000. Sanctuary Advisors LLC lifted its position in UGI by 88.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,876 shares of the utilities provider’s stock valued at $547,000 after acquiring an additional 10,251 shares in the last quarter. Geode Capital Management LLC boosted its stake in UGI by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,762,970 shares of the utilities provider’s stock valued at $127,246,000 after purchasing an additional 1,202,938 shares during the last quarter. M&T Bank Corp increased its holdings in shares of UGI by 0.8% in the 3rd quarter. M&T Bank Corp now owns 186,294 shares of the utilities provider’s stock worth $4,661,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of UGI by 7.8% in the third quarter. Barclays PLC now owns 313,810 shares of the utilities provider’s stock worth $7,852,000 after purchasing an additional 22,752 shares during the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

UGI Stock Up 0.6 %

UGI stock opened at $27.27 on Friday. The business’s 50-day moving average is $26.12 and its two-hundred day moving average is $24.64. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 21.99 and a beta of 1.21. UGI Co. has a fifty-two week low of $21.67 and a fifty-two week high of $30.48. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.60 and a current ratio of 0.80.

UGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 16th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Monday, December 16th. UGI’s payout ratio is 120.97%.

Wall Street Analyst Weigh In

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

About UGI

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.