UGI (NYSE:UGI) Reaches New 52-Week High After Dividend Announcement

UGI Co. (NYSE:UGI) shares hit a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $26.15 and last traded at $26.06, with a volume of 647842 shares trading hands. The stock had previously closed at $24.78.

The newly announced dividend which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.26%. UGI’s dividend payout ratio is currently 120.97%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com cut UGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Jefferies Financial Group began coverage on shares of UGI in a research note on Friday. They issued a “buy” rating and a $28.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised shares of UGI from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $30.00 in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

UGI Stock Performance

The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $6.12 billion, a P/E ratio of 23.00 and a beta of 1.13. The business has a fifty day moving average price of $24.40 and a 200-day moving average price of $24.10.

Institutional Investors Weigh In On UGI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Easterly Investment Partners LLC grew its stake in shares of UGI by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 59,238 shares of the utilities provider’s stock valued at $1,482,000 after purchasing an additional 450 shares during the period. MetLife Investment Management LLC grew its position in UGI by 0.4% during the third quarter. MetLife Investment Management LLC now owns 110,875 shares of the utilities provider’s stock valued at $2,774,000 after buying an additional 489 shares during the period. GAMMA Investing LLC grew its position in UGI by 24.2% during the second quarter. GAMMA Investing LLC now owns 2,627 shares of the utilities provider’s stock valued at $60,000 after buying an additional 512 shares during the period. Signaturefd LLC increased its holdings in UGI by 7.2% during the third quarter. Signaturefd LLC now owns 7,885 shares of the utilities provider’s stock valued at $197,000 after buying an additional 531 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in UGI by 2.5% in the third quarter. Glenmede Trust Co. NA now owns 22,034 shares of the utilities provider’s stock worth $551,000 after acquiring an additional 541 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.

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.