Truist Financial Corp Increases Holdings in UGI Co. (NYSE:UGI)

Truist Financial Corp grew its holdings in UGI Co. (NYSE:UGI) by 79.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,683 shares of the utilities provider’s stock after acquiring an additional 7,813 shares during the period. Truist Financial Corp’s holdings in UGI were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in UGI. Point72 Asset Management L.P. increased its holdings in shares of UGI by 945.7% in the second quarter. Point72 Asset Management L.P. now owns 145,352 shares of the utilities provider’s stock worth $3,329,000 after purchasing an additional 131,452 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in UGI during the second quarter worth approximately $448,000. NewEdge Advisors LLC increased its stake in UGI by 9.4% during the second quarter. NewEdge Advisors LLC now owns 89,151 shares of the utilities provider’s stock worth $2,042,000 after acquiring an additional 7,690 shares during the last quarter. Algert Global LLC increased its stake in UGI by 86.3% during the second quarter. Algert Global LLC now owns 415,612 shares of the utilities provider’s stock worth $9,518,000 after acquiring an additional 192,542 shares during the last quarter. Finally, Scientech Research LLC bought a new stake in UGI during the second quarter worth approximately $1,375,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

UGI Trading Down 1.2 %

UGI opened at $24.86 on Friday. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 7.97 and a beta of 1.13. The stock’s 50 day moving average price is $24.34 and its 200-day moving average price is $24.16. UGI Co. has a one year low of $20.19 and a one year high of $26.15. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.91.

UGI (NYSE:UGI) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.12. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.73 billion. UGI had a return on equity of 15.65% and a net margin of 9.13%. The business’s quarterly revenue was down 16.8% on a year-over-year basis. On average, equities analysts forecast that UGI Co. will post 2.93 EPS for the current year.

UGI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.04%. UGI’s payout ratio is 48.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on UGI shares. StockNews.com cut UGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their price objective on UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday.

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.