Massachusetts Financial Services Co. MA Buys 614,067 Shares of UGI Co. (NYSE:UGI)

Massachusetts Financial Services Co. MA grew its stake in shares of UGI Co. (NYSE:UGI) by 162.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 991,155 shares of the utilities provider’s stock after acquiring an additional 614,067 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.47% of UGI worth $22,697,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Inspire Advisors LLC bought a new stake in UGI during the 2nd quarter valued at about $1,393,000. Stolper Co increased its position in shares of UGI by 1.5% during the second quarter. Stolper Co now owns 79,916 shares of the utilities provider’s stock valued at $1,830,000 after acquiring an additional 1,152 shares in the last quarter. HBK Sorce Advisory LLC bought a new stake in shares of UGI during the second quarter valued at approximately $202,000. Federated Hermes Inc. raised its holdings in UGI by 28.7% in the 2nd quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock worth $81,014,000 after acquiring an additional 788,457 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in UGI by 436.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 89,275 shares of the utilities provider’s stock valued at $2,010,000 after acquiring an additional 72,640 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

UGI Stock Performance

Shares of UGI stock opened at $24.04 on Friday. The firm has a market capitalization of $5.04 billion, a PE ratio of -58.62 and a beta of 1.13. The company has a 50 day moving average price of $24.29 and a 200-day moving average price of $24.17. UGI Co. has a 52 week low of $20.19 and a 52 week high of $26.15. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.34.

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

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.24%. UGI’s dividend payout ratio is currently -365.85%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut UGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

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.