On September 26, 2023, it was reported that Hennessy Advisors Inc. had reduced its stake in UGI Co. (NYSE:UGI) by 8.6% during the second quarter of the year. This information was disclosed in the institutional investor’s most recent filing with the Securities and Exchange Commission. After selling 9,200 shares during the quarter, Hennessy Advisors Inc. now owns 98,152 shares of UGI’s stock. The value of their holdings in UGI amount to approximately $2,647,000 as of the end of this reporting period.
UGI Corporation is a company that operates through various subsidiaries to distribute, store, transport, and market energy products and related services both domestically and internationally. The company is divided into four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. Its primary business revolves around distributing propane to a wide range of customers including residential, commercial/industrial, motor fuel, agricultural, and wholesale clients. Currently operating through an extensive network comprising 1,400 propane distribution locations.
This recent update on Hennessy Advisors Inc.’s reduced position in UGI showcases a shift in the investment landscape for this utilities provider. It is worth noting that while this particular institutional investor has lessened its holdings in the company’s stock during this reporting period, their decision does not necessarily reflect the overall performance or potential of UGI Co.
Interested parties may keep an eye on future developments regarding UGI Corporation as it continues to navigate its operations within the energy industry both domestically and globally. As with any publicly-traded company, investors should carefully consider all available information before making any investment decisions related to UGI’s stock.
Please note that all data mentioned in this article pertains to information available as of September 26th, 2023 and may be subject to change as new filings are made with the Securities and Exchange Commission.
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Institutional Investors Adjust Holdings of UGI Corporation Amid Uncertainty
On September 26, 2023, it was reported that several institutional investors had made adjustments to their holdings of UGI Corporation, a company that distributes, stores, transports, and markets energy products and related services in the United States and internationally. Stonebridge Capital Advisors LLC increased its position in UGI by 165.4% during the fourth quarter, acquiring an additional 430 shares of the utilities provider’s stock. Stone House Investment Management LLC also obtained a new stake in UGI during the first quarter valued at approximately $25,000.
Furthermore, BerganKDV Wealth Management LLC saw a rise of 189.8% in its position in UGI during the first quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of UGI in the fourth quarter while ICA Group Wealth Management LLC acquired a new position in shares of UGI as well. It is interesting to note that approximately 81.53% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently provided their thoughts on UGI Corporation as well. Mizuho lowered their target price on UGI from $33.00 to $29.00 and assigned a “neutral” rating on the stock in a research report on Monday, September 11th. In addition, StockNews.com downgraded UGI from a “hold” rating to a “sell” rating on Monday, September 4th.
However, Wells Fargo & Company upgraded UGI from an “equal weight” rating to an “overweight” rating but decreased their price objective for the stock from $28.00 to $27.00 in a research report on Monday,August28th.Theseanalystswantedtostatethateverysingle pointverycarefullyby usingdifferentratingsandtargetprices.Finally,”thed+ratingwasgivenfortheRheStre to street lowerrated UGI,downgradingthemfrom a ‘c’ rating. Overall,thethree equities research analysts have rated the stock with a sell rating, one has given it a holdrating,andonehasgivenabuyratingto thecompany’sstockbasedondatafrom Bloomber.com. Theratingshighlightthe lackofconsensusandshowthatinvestors and analysts have varying perspectives on the attractiveness of UGI Corporation.
UGI Corporation currently operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. The company distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through its extensive network of 1,400 propane distribution locations.
On September 26th,U GI shares opened at $24.39. The firm has experienced a decline in its 50-day moving average from $24.64 and its two-hundred day moving average from $28.58.U GI Corpo- ration has had quite a volatile year as its twelve month low stands at $22.44 while the twelve month high lingered at an impressive $43.19.
Key financial ratios also provide significant information about UGI Corporation’s financial health. With a current ratio of 0.98 and quick ratio of 0.78,the firm seems to be relatively capable of meeting short-term obligations.However,it does seem to have considerable debt compared to equity with a debt-to-equity ratio reaching up to1 .56.This could suggest higher financial risk associated with the company.
It is important to mention that UGI recently declared a quarterly dividend payment which will be made on Sunday, October 1st.Stockholders who were recorded as such on Friday, September15thwill receiveadividendamountingto$0.e5upershae.This representsa$1.a0n-annualized dividend with a dividend yield of 6.15%.The ex-dividend date for this payment is Thursday, Septembef1r4th.
To sum up, UGI Corporation’s recent adjustments in institutional holdings and the varying opinions of analysts reflect a sense of uncertainty regarding the company’s future prospects. While some investors have increased their positions in UGI, others have downgraded the stock and lowered their target prices. It remains to be seen how these factors will impact UGI’s performance in the coming months.
