Allspring Global Investments Holdings LLC Trims Stake in UGI Co. (NYSE:UGI)

Allspring Global Investments Holdings LLC lowered its stake in shares of UGI Co. (NYSE:UGI) by 82.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,369 shares of the utilities provider’s stock after selling 30,169 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UGI were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. American National Bank bought a new position in shares of UGI during the first quarter valued at approximately $27,000. GAMMA Investing LLC bought a new position in shares of UGI during the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new position in shares of UGI during the fourth quarter valued at approximately $39,000. Neo Ivy Capital Management bought a new position in shares of UGI during the fourth quarter valued at approximately $40,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of UGI during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Price Performance

Shares of UGI opened at $23.06 on Friday. The company has a market capitalization of $4.83 billion, a P/E ratio of -56.24 and a beta of 1.13. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $23.63 and a 200 day moving average of $24.04. UGI Co. has a twelve month low of $20.19 and a twelve month high of $27.78.

UGI (NYSE:UGI) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.32. UGI had a negative net margin of 0.89% and a positive return on equity of 15.78%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the company posted $1.68 earnings per share. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, equities research analysts anticipate that UGI Co. will post 2.92 earnings per share for the current fiscal year.

UGI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 6.50%. The ex-dividend date was Friday, June 14th. UGI’s dividend payout ratio is currently -365.84%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UGI. Wells Fargo & Company decreased their target price on shares of UGI from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. StockNews.com raised shares of UGI from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Mizuho raised their price target on shares of UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th.

UGI Company Profile

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.