Maridea Wealth Management LLC Acquires New Shares in UGI Corporation (NYSE:UGI)

Maridea Wealth Management LLC purchased a new stake in shares of UGI Corporation (NYSE:UGI) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,468 shares of the utilities provider’s stock, valued at approximately $578,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Advisors LLC lifted its holdings in shares of UGI by 8.6% during the 1st quarter. Inspire Advisors LLC now owns 96,348 shares of the utilities provider’s stock valued at $3,186,000 after buying an additional 7,620 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UGI by 41.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 86,720 shares of the utilities provider’s stock valued at $2,868,000 after buying an additional 25,434 shares during the period. Cetera Investment Advisers lifted its holdings in shares of UGI by 3.5% during the 1st quarter. Cetera Investment Advisers now owns 26,079 shares of the utilities provider’s stock valued at $862,000 after buying an additional 872 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of UGI during the 1st quarter valued at $260,000. Finally, Convergence Investment Partners LLC bought a new position in shares of UGI during the 1st quarter valued at $541,000. 82.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UGI shares. Mizuho upped their price objective on UGI from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Wall Street Zen lowered UGI from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th.

UGI Trading Up 0.5%

NYSE:UGI opened at $36.02 on Monday. UGI Corporation has a one year low of $23.09 and a one year high of $37.42. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.05. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.05. The business has a fifty day moving average price of $35.95 and a 200-day moving average price of $33.58.

UGI (NYSE:UGI) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.41. UGI had a net margin of 7.28% and a return on equity of 16.21%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $1.97 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that UGI Corporation will post 3.02 EPS for the current year.

UGI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, June 16th. UGI’s dividend payout ratio (DPR) is presently 61.73%.

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.