Allspring Global Investments Holdings LLC Reduces Stock Position in UGI Co. (NYSE:UGI)

Allspring Global Investments Holdings LLC cut its position in shares of UGI Co. (NYSE:UGI) by 93.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,538 shares of the utilities provider’s stock after selling 482,859 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UGI were worth $899,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Stolper Co purchased a new stake in UGI in the 4th quarter valued at about $1,927,000. Comerica Bank raised its holdings in shares of UGI by 316.5% in the 3rd quarter. Comerica Bank now owns 179,049 shares of the utilities provider’s stock valued at $4,118,000 after purchasing an additional 136,058 shares in the last quarter. Occidental Asset Management LLC raised its holdings in shares of UGI by 247.8% in the 4th quarter. Occidental Asset Management LLC now owns 58,309 shares of the utilities provider’s stock valued at $1,434,000 after purchasing an additional 41,546 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of UGI by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 26,271,972 shares of the utilities provider’s stock valued at $604,255,000 after purchasing an additional 781,929 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of UGI by 644.3% in the 3rd quarter. Algert Global LLC now owns 209,661 shares of the utilities provider’s stock valued at $4,822,000 after purchasing an additional 181,491 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TheStreet upgraded shares of UGI from a “d+” rating to a “c-” rating in a report on Wednesday, February 21st. Wells Fargo & Company lowered shares of UGI from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $27.00 to $28.00 in a report on Thursday, March 14th. Mizuho boosted their price objective on shares of UGI from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th.

UGI Stock Performance

NYSE:UGI opened at $26.01 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.79 and a current ratio of 0.98. The company has a fifty day moving average of $24.51 and a two-hundred day moving average of $23.31. The stock has a market capitalization of $5.45 billion, a PE ratio of -11.82 and a beta of 1.16. UGI Co. has a fifty-two week low of $20.19 and a fifty-two week high of $34.28.

UGI (NYSE:UGI) last posted its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.08. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.98 billion. UGI had a negative net margin of 5.48% and a positive return on equity of 14.09%. As a group, research analysts forecast that UGI Co. will post 2.9 earnings per share for the current fiscal year.

UGI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Thursday, March 14th. UGI’s dividend payout ratio (DPR) is -68.18%.

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.