Principal Financial Group Inc. Reduces Stock Position in UGI Co. (NYSE:UGI)

Principal Financial Group Inc. lowered its position in UGI Co. (NYSE:UGI - Free Report) by 28.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 497,194 shares of the utilities provider's stock after selling 200,873 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of UGI worth $12,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

UGI Stock Up 0.6 %

UGI traded up $0.17 on Monday, hitting $28.16. The company had a trading volume of 1,689,731 shares, compared to its average volume of 2,225,387. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 22.71 and a beta of 1.21. The stock has a fifty day moving average price of $26.47 and a 200-day moving average price of $24.85. UGI Co. has a 12-month low of $21.67 and a 12-month high of $30.48. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.60 and a current ratio of 0.80.

UGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 16th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, December 16th. This represents a $1.50 dividend on an annualized basis and a yield of 5.33%. UGI's payout ratio is 120.97%.

Analyst Ratings Changes

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