Everence Capital Management Inc. Acquires Shares of 21,010 UGI Co. (NYSE:UGI)

Everence Capital Management Inc. bought a new position in UGI Co. (NYSE:UGI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,010 shares of the utilities provider’s stock, valued at approximately $593,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concord Wealth Partners increased its position in shares of UGI by 100.0% in the third quarter. Concord Wealth Partners now owns 1,274 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 637 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in UGI during the 2nd quarter valued at about $40,000. Ashton Thomas Private Wealth LLC bought a new position in UGI during the 2nd quarter valued at approximately $50,000. Farther Finance Advisors LLC lifted its holdings in UGI by 189.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,073 shares of the utilities provider’s stock worth $52,000 after buying an additional 1,358 shares during the period. Finally, Millburn Ridgefield Corp bought a new stake in shares of UGI in the 3rd quarter worth approximately $55,000. 82.34% of the stock is currently owned by institutional investors.

UGI Stock Performance

Shares of UGI stock opened at $28.63 on Friday. 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’s fifty day moving average price is $26.75 and its 200-day moving average price is $24.98. The stock has a market cap of $6.15 billion, a PE ratio of 23.09 and a beta of 1.21. UGI Co. has a 12 month low of $21.67 and a 12 month high of $30.48.

UGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date was Monday, December 16th. UGI’s dividend payout ratio (DPR) is presently 120.97%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho raised shares of UGI from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $27.00 to $30.00 in a research report on Friday, November 15th. Finally, 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 target for the company. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, UGI currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

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.