Bank of Montreal Can Purchases 73,485 Shares of UGI Co. (NYSE:UGI)

Bank of Montreal Can increased its stake in shares of UGI Co. (NYSE:UGI - Free Report) by 199.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,275 shares of the utilities provider's stock after purchasing an additional 73,485 shares during the quarter. Bank of Montreal Can owned approximately 0.05% of UGI worth $2,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UGI. Citigroup Inc. grew its holdings in shares of UGI by 33.0% during the 3rd quarter. Citigroup Inc. now owns 203,313 shares of the utilities provider's stock valued at $5,087,000 after acquiring an additional 50,485 shares in the last quarter. International Assets Investment Management LLC grew its stake in UGI by 2,402.0% in the third quarter. International Assets Investment Management LLC now owns 26,046 shares of the utilities provider's stock valued at $652,000 after purchasing an additional 25,005 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in UGI in the 2nd quarter worth about $2,088,000. Wedge Capital Management L L P NC increased its holdings in UGI by 12.6% in the second quarter. Wedge Capital Management L L P NC now owns 578,469 shares of the utilities provider's stock worth $13,247,000 after buying an additional 64,755 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in UGI by 945.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 51,280 shares of the utilities provider's stock valued at $1,283,000 after acquiring an additional 46,377 shares during the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

UGI Stock Performance

Shares of NYSE UGI traded down $0.88 during trading hours on Thursday, reaching $28.03. The stock had a trading volume of 3,837,233 shares, compared to its average volume of 2,226,433. UGI Co. has a twelve month low of $21.51 and a twelve month high of $30.48. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.80 and a quick ratio of 0.60. The business's fifty day moving average is $25.25 and its two-hundred day moving average is $24.36. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 23.31 and a beta of 1.21.

UGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Monday, December 16th. UGI's payout ratio is 120.97%.

Analysts Set New Price Targets

UGI has been the topic of several recent research reports. Wells Fargo & Company raised their target price on UGI from $26.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on UGI in a research note on Friday, November 22nd. They issued a "buy" rating and a $28.00 price objective on the stock. Finally, Mizuho upgraded UGI from a "neutral" rating to an "outperform" rating and increased their target price for the company from $27.00 to $30.00 in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.33.

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.