UGI Co. (NYSE:UGI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in UGI Co. (NYSE:UGI) by 35.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,227,732 shares of the utilities provider’s stock after purchasing an additional 318,655 shares during the period. JPMorgan Chase & Co. owned about 0.57% of UGI worth $30,718,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Concord Wealth Partners increased its holdings in UGI by 100.0% during the 3rd 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of UGI during the 2nd quarter worth approximately $40,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of UGI during the 2nd quarter worth approximately $50,000. Farther Finance Advisors LLC lifted its stake in UGI by 189.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,073 shares of the utilities provider’s stock valued at $52,000 after buying an additional 1,358 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in UGI during the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Stock Performance

Shares of UGI stock opened at $28.38 on Wednesday. The company’s fifty day moving average price is $26.81 and its two-hundred day moving average price is $25.06. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.80 and a quick ratio of 0.60. The firm has a market capitalization of $6.09 billion, a P/E ratio of 22.89 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors 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 5.29%. The ex-dividend date was Monday, December 16th. UGI’s dividend payout ratio is currently 120.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted 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 assumed coverage on UGI in a research 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 raised their price objective for the stock from $27.00 to $30.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, UGI currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

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.