NFJ Investment Group LLC Sells 71,731 Shares of UGI Co. (NYSE:UGI)

NFJ Investment Group LLC reduced its stake in shares of UGI Co. (NYSE:UGI) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 982,728 shares of the utilities provider’s stock after selling 71,731 shares during the quarter. NFJ Investment Group LLC’s holdings in UGI were worth $24,588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of UGI by 2,402.0% in the third quarter. International Assets Investment Management LLC now owns 26,046 shares of the utilities provider’s stock worth $652,000 after purchasing an additional 25,005 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of UGI in the second quarter worth about $2,088,000. Wedge Capital Management L L P NC grew its stake in shares of UGI by 12.6% in the second quarter. Wedge Capital Management L L P NC now owns 578,469 shares of the utilities provider’s stock worth $13,247,000 after purchasing an additional 64,755 shares during the last quarter. FMR LLC lifted its holdings in UGI by 42.0% in the third quarter. FMR LLC now owns 9,418,865 shares of the utilities provider’s stock worth $235,660,000 after buying an additional 2,786,878 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in UGI by 945.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 51,280 shares of the utilities provider’s stock worth $1,283,000 after buying an additional 46,377 shares during the period. 82.34% of the stock is owned by institutional investors.

UGI Stock Performance

NYSE:UGI traded down $0.06 during trading hours on Tuesday, reaching $28.71. The company had a trading volume of 451,222 shares, compared to its average volume of 2,207,657. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.48. UGI Co. has a 52 week low of $21.51 and a 52 week high of $30.48. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 23.21 and a beta of 1.21. The firm’s 50 day moving average price is $25.08 and its 200-day moving average price is $24.30.

UGI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Monday, December 16th. UGI’s dividend payout ratio (DPR) is presently 120.97%.

Wall Street Analyst Weigh In

Several brokerages have commented on UGI. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Mizuho upgraded shares of UGI from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $27.00 to $30.00 in a report on Friday, November 15th. Jefferies Financial Group initiated coverage on shares of UGI in a report on Friday, November 22nd. They set a “buy” rating and a $28.00 target price for the company. Finally, Wells Fargo & Company raised their price target 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. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.