UGI Co. (NYSE:UGI) Shares Purchased by Zacks Investment Management

Zacks Investment Management boosted its holdings in shares of UGI Co. (NYSE:UGI - Free Report) by 229.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,572 shares of the utilities provider's stock after purchasing an additional 21,979 shares during the period. Zacks Investment Management's holdings in UGI were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UGI. Wealth Enhancement Advisory Services LLC grew its stake in UGI by 4.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,772 shares of the utilities provider's stock valued at $544,000 after acquiring an additional 928 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of UGI in the 2nd quarter worth $269,000. SteelPeak Wealth LLC purchased a new position in shares of UGI during the 2nd quarter worth $209,000. Wedge Capital Management L L P NC boosted its position in shares of UGI by 12.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 578,469 shares of the utilities provider's stock valued at $13,247,000 after acquiring an additional 64,755 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in UGI during the second quarter worth about $1,347,000. Institutional investors and hedge funds own 82.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of UGI from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on UGI in a report on Friday, November 22nd. They set a "buy" rating and a $28.00 price target for the company. Finally, Mizuho upgraded UGI from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $27.00 to $30.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $28.33.

UGI Trading Up 0.4 %

Shares of NYSE UGI traded up $0.10 on Wednesday, reaching $28.64. 2,217,552 shares of the company traded hands, compared to its average volume of 2,230,523. The stock has a market capitalization of $6.15 billion, a PE ratio of 23.10 and a beta of 1.21. UGI Co. has a fifty-two week low of $21.51 and a fifty-two week high of $30.48. 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 company has a 50 day moving average of $25.60 and a 200 day moving average of $24.49.

UGI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 16th will be issued a $0.375 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.50 annualized dividend and a yield of 5.24%. UGI's dividend 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.