Reinhart Partners Inc. lifted its stake in UGI Corp (NYSE:UGI) by 23.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 514,218 shares of the utilities provider’s stock after purchasing an additional 96,827 shares during the quarter. UGI accounts for 2.4% of Reinhart Partners Inc.’s portfolio, making the stock its 14th largest position. Reinhart Partners Inc. owned about 0.29% of UGI worth $25,850,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eagle Asset Management Inc. raised its position in UGI by 76.7% during the third quarter. Eagle Asset Management Inc. now owns 86,642 shares of the utilities provider’s stock valued at $4,355,000 after acquiring an additional 37,599 shares in the last quarter. First Trust Advisors LP raised its position in UGI by 41.6% during the third quarter. First Trust Advisors LP now owns 1,347,851 shares of the utilities provider’s stock valued at $67,756,000 after acquiring an additional 396,182 shares in the last quarter. Keybank National Association OH bought a new position in UGI during the third quarter valued at approximately $403,000. Roffman Miller Associates Inc. PA raised its position in UGI by 28.1% during the third quarter. Roffman Miller Associates Inc. PA now owns 221,812 shares of the utilities provider’s stock valued at $11,150,000 after acquiring an additional 48,617 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in UGI by 14.3% during the third quarter. Cullen Frost Bankers Inc. now owns 8,572 shares of the utilities provider’s stock valued at $431,000 after acquiring an additional 1,072 shares in the last quarter. 85.08% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on UGI. UBS Group dropped their price target on shares of UGI from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Barclays reissued a “sell” rating and issued a $50.00 price target on shares of UGI in a research report on Wednesday, October 16th. Finally, TheStreet lowered shares of UGI from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.50.
UGI Corporation 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 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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