Toronto Dominion Bank grew its stake in shares of UGI Corp (NYSE:UGI) by 33.7% during the 1st quarter, HoldingsChannel reports. The fund owned 31,302 shares of the utilities provider’s stock after acquiring an additional 7,887 shares during the period. Toronto Dominion Bank’s holdings in UGI were worth $1,734,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of UGI. JPMorgan Chase & Co. raised its stake in shares of UGI by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 776,566 shares of the utilities provider’s stock worth $43,084,000 after buying an additional 122,925 shares in the last quarter. Vanguard Group Inc raised its stake in shares of UGI by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 17,941,400 shares of the utilities provider’s stock worth $995,389,000 after buying an additional 232,308 shares in the last quarter. Bank of Montreal Can raised its stake in shares of UGI by 18.4% during the 4th quarter. Bank of Montreal Can now owns 504,037 shares of the utilities provider’s stock worth $26,890,000 after buying an additional 78,223 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of UGI during the 4th quarter worth approximately $1,024,000. Finally, BB&T Corp raised its stake in shares of UGI by 5.0% during the 4th quarter. BB&T Corp now owns 61,737 shares of the utilities provider’s stock worth $3,293,000 after buying an additional 2,957 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.
In other UGI news, CEO John L. Walsh sold 50,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.19, for a total transaction of $2,709,500.00. Following the sale, the chief executive officer now owns 502,226 shares in the company, valued at approximately $27,215,626.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank S. Hermance acquired 100,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average price of $54.10 per share, for a total transaction of $5,410,000.00. Following the acquisition, the director now directly owns 250,000 shares of the company’s stock, valued at $13,525,000. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.
UGI (NYSE:UGI) last announced its earnings results on Monday, May 6th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.13). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. UGI had a net margin of 5.14% and a return on equity of 10.31%. On average, research analysts expect that UGI Corp will post 2.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from UGI’s previous quarterly dividend of $0.26. UGI’s dividend payout ratio is 37.96%.
Several equities analysts recently weighed in on the company. ValuEngine raised UGI from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised UGI from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Jefferies Financial Group raised UGI from a “hold” rating to a “buy” rating and raised their price objective for the company from $54.00 to $60.00 in a research note on Friday, April 5th. They noted that the move was a valuation call. Barclays reaffirmed a “sell” rating and issued a $51.00 price objective on shares of UGI in a research note on Thursday, April 4th. Finally, Bank of America raised UGI from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $58.00.
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UGI Corporation 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 1.7 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,900 propane distribution locations; and sells, installs, and services propane appliances, including heating systems and propane-powered generators.
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