KBC Group NV Trims Stock Position in UGI Co. (NYSE:UGI)

KBC Group NV lessened its holdings in UGI Co. (NYSE:UGI) by 33.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,806 shares of the utilities provider’s stock after selling 34,485 shares during the period. KBC Group NV’s holdings in UGI were worth $1,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UGI. Marshall Wace LLP purchased a new position in shares of UGI during the second quarter valued at approximately $392,000. NewEdge Advisors LLC lifted its stake in shares of UGI by 9.4% during the second quarter. NewEdge Advisors LLC now owns 89,151 shares of the utilities provider’s stock valued at $2,042,000 after buying an additional 7,690 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of UGI during the second quarter valued at approximately $448,000. Truist Financial Corp lifted its stake in shares of UGI by 79.2% during the second quarter. Truist Financial Corp now owns 17,683 shares of the utilities provider’s stock valued at $405,000 after buying an additional 7,813 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of UGI by 20.0% during the second quarter. Cetera Investment Advisers now owns 41,158 shares of the utilities provider’s stock valued at $943,000 after buying an additional 6,850 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho raised shares of UGI from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $30.00 in a research note on Friday, November 15th. Finally, Jefferies Financial Group started coverage on UGI in a research report on Friday, November 22nd. They issued a “buy” rating and a $28.00 target price on the stock. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

UGI Price Performance

Shares of UGI stock opened at $30.74 on Friday. UGI Co. has a twelve month low of $22.01 and a twelve month high of $31.05. The stock has a market capitalization of $6.60 billion, a P/E ratio of 24.79 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.48. The business’s fifty day moving average price is $28.94 and its 200 day moving average price is $25.96.

UGI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Monday, December 16th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Monday, December 16th. UGI’s payout ratio is currently 120.97%.

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.