Geode Capital Management LLC Has $127.25 Million Stock Position in UGI Co. (NYSE:UGI)

Geode Capital Management LLC grew its position in UGI Co. (NYSE:UGI) by 33.8% in the third quarter, Holdings Channel reports. The fund owned 4,762,970 shares of the utilities provider’s stock after acquiring an additional 1,202,938 shares during the quarter. Geode Capital Management LLC’s holdings in UGI were worth $127,246,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. M&T Bank Corp increased its stake in shares of UGI by 0.8% in the third quarter. M&T Bank Corp now owns 186,294 shares of the utilities provider’s stock valued at $4,661,000 after buying an additional 1,387 shares during the period. Barclays PLC lifted its holdings in shares of UGI by 7.8% during 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 period. Public Employees Retirement System of Ohio increased its holdings in UGI by 2.6% in the third quarter. Public Employees Retirement System of Ohio now owns 82,079 shares of the utilities provider’s stock valued at $2,054,000 after purchasing an additional 2,079 shares during the period. Roffman Miller Associates Inc. PA raised its position in UGI by 3.9% during the 3rd quarter. Roffman Miller Associates Inc. PA now owns 183,305 shares of the utilities provider’s stock worth $4,586,000 after purchasing an additional 6,850 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in UGI during the 3rd quarter worth about $2,928,000. Institutional investors and hedge funds own 82.34% of the company’s stock.

UGI Stock Down 1.2 %

Shares of UGI stock opened at $27.73 on Wednesday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 22.36 and a beta of 1.21. The stock’s 50-day moving average is $25.95 and its 200 day moving average is $24.60. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.80 and a quick ratio of 0.60. UGI Co. has a one year low of $21.67 and a one year high of $30.48.

UGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, December 16th. UGI’s dividend payout ratio (DPR) is 120.97%.

Analyst Upgrades and Downgrades

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