UGI Corporation (UGI) Upgraded to “Buy” by Zacks Investment Research
UGI Corporation (NYSE:UGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $54.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.48% from the stock’s current price.
According to Zacks, “UGI Corporation is a holding company that operates propane distribution, gas and electric utility, energy marketing and related businesses through subsidiaries. Our majority-owned subsidiary, AmeriGas Partners, L.P., a Delaware limited partnership, conducts one of the nation’s largest retail propane distribution businesses through its subsidiary AmeriGas Propane, L.P. “
Other equities research analysts have also issued reports about the company. Barclays PLC dropped their price target on UGI Corporation from $44.00 to $43.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and set a $46.00 price target on shares of UGI Corporation in a research report on Wednesday, April 19th. Finally, BidaskClub lowered UGI Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. UGI Corporation presently has an average rating of “Hold” and an average target price of $47.80.
UGI Corporation (NYSE UGI) opened at 48.01 on Thursday. UGI Corporation has a one year low of $41.79 and a one year high of $52.00. The firm has a market capitalization of $8.31 billion, a PE ratio of 18.10 and a beta of 0.67. The stock has a 50 day moving average of $49.24 and a 200-day moving average of $48.98.
UGI Corporation (NYSE:UGI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. UGI Corporation had a net margin of 6.48% and a return on equity of 10.44%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities analysts predict that UGI Corporation will post $2.29 EPS for the current year.
In other UGI Corporation news, Director Roger B. Vincent sold 25,500 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $50.70, for a total value of $1,292,850.00. Following the sale, the director now directly owns 20,266 shares of the company’s stock, valued at $1,027,486.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Walsh sold 50,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $50.90, for a total value of $2,545,000.00. Following the completion of the sale, the chief executive officer now directly owns 477,617 shares in the company, valued at $24,310,705.30. The disclosure for this sale can be found here. Insiders sold 97,250 shares of company stock worth $4,954,218 over the last ninety days. 2.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of UGI. BlackRock Inc. raised its stake in shares of UGI Corporation by 4,111.8% in the first quarter. BlackRock Inc. now owns 17,048,089 shares of the utilities provider’s stock valued at $842,176,000 after buying an additional 16,643,321 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of UGI Corporation by 145.8% in the first quarter. Principal Financial Group Inc. now owns 1,717,047 shares of the utilities provider’s stock valued at $84,821,000 after buying an additional 1,018,365 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of UGI Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 18,875,325 shares of the utilities provider’s stock valued at $932,441,000 after buying an additional 666,792 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of UGI Corporation by 961.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 444,695 shares of the utilities provider’s stock valued at $21,968,000 after buying an additional 402,810 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of UGI Corporation by 3.1% in the first quarter. First Eagle Investment Management LLC now owns 7,121,890 shares of the utilities provider’s stock valued at $351,821,000 after buying an additional 213,192 shares in the last quarter. 78.16% of the stock is currently owned by hedge funds and other institutional investors.
About UGI Corporation
UGI Corporation is a holding company. The Company distributes, stores, transports and markets energy products and related services. It operates through six segments. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P. The UGI France segment consists of the French LPG distribution business of its subsidiaries, Antargaz, Finagaz and its liquefied petroleum gases (LPG) distribution businesses.
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