Geode Capital Management LLC Grows Stake in UGI Co. (NYSE:UGI)

Geode Capital Management LLC grew its holdings in UGI Co. (NYSE:UGI - Free Report) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,762,970 shares of the utilities provider's stock after purchasing an additional 1,202,938 shares during the period. Geode Capital Management LLC owned about 2.22% of UGI worth $127,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of UGI. Citigroup Inc. lifted its position in UGI by 33.0% during the third quarter. Citigroup Inc. now owns 203,313 shares of the utilities provider's stock valued at $5,087,000 after purchasing an additional 50,485 shares during the period. International Assets Investment Management LLC raised its stake in UGI by 2,402.0% during the 3rd quarter. International Assets Investment Management LLC now owns 26,046 shares of the utilities provider's stock valued at $652,000 after buying an additional 25,005 shares during the last quarter. FMR LLC lifted its holdings in shares of UGI by 42.0% during the 3rd quarter. FMR LLC now owns 9,418,865 shares of the utilities provider's stock valued at $235,660,000 after buying an additional 2,786,878 shares during the period. Commerce Bank bought a new position in shares of UGI during the 3rd quarter valued at $645,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of UGI by 945.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,280 shares of the utilities provider's stock worth $1,283,000 after buying an additional 46,377 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company's stock.

UGI Stock Performance

NYSE:UGI traded down $0.96 during mid-day trading on Wednesday, hitting $26.74. 3,123,894 shares of the company traded hands, compared to its average volume of 2,232,521. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.48. The stock's fifty day moving average price is $25.95 and its 200-day moving average price is $24.60. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 21.56 and a beta of 1.21. UGI Co. has a one year low of $21.67 and a one year high of $30.48.

UGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Monday, December 16th. UGI's payout ratio is 120.97%.

Analyst Ratings Changes

UGI has been the topic of a number of recent research reports. Wells Fargo & Company increased 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. Mizuho raised shares of UGI from a "neutral" rating to an "outperform" rating and upped their price target for the company from $27.00 to $30.00 in a research report on Friday, November 15th. Finally, Jefferies Financial Group began coverage on shares of UGI in a report on Friday, November 22nd. They issued a "buy" rating and a $28.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, UGI has a consensus rating of "Moderate Buy" and an average target price of $28.33.

UGI 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.