Wedge Capital Management L L P NC Decreases Holdings in UGI Co. (NYSE:UGI)

Wedge Capital Management L L P NC trimmed its holdings in UGI Co. (NYSE:UGI) by 20.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 442,168 shares of the utilities provider’s stock after selling 113,763 shares during the quarter. Wedge Capital Management L L P NC’s holdings in UGI were worth $12,482,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in UGI. Concord Wealth Partners raised 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 buying an additional 637 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of UGI during the second quarter valued at about $40,000. Farther Finance Advisors LLC boosted its holdings in shares of UGI by 189.9% during the third quarter. Farther Finance Advisors LLC now owns 2,073 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,358 shares during the period. Millburn Ridgefield Corp bought a new stake in shares of UGI in the third quarter worth about $55,000. Finally, Blue Trust Inc. increased its holdings in UGI by 64.2% during the 3rd quarter. Blue Trust Inc. now owns 3,311 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,295 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UGI shares. Mizuho upgraded UGI from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $27.00 to $30.00 in a research report on Friday, November 15th. Jefferies Financial Group started coverage on shares of UGI in a research report on Friday, November 22nd. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

UGI Price Performance

Shares of UGI stock opened at $30.11 on Friday. The business’s fifty day moving average is $27.75 and its 200 day moving average is $25.42. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.48. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 24.28 and a beta of 1.21. UGI Co. has a twelve month low of $21.67 and a twelve month high of $30.48.

UGI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Monday, December 16th were paid a $0.375 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.50 annualized dividend and a dividend yield of 4.98%. UGI’s payout ratio is 120.97%.

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.