Quest Partners LLC Reduces Stock Holdings in UGI Co. (NYSE:UGI)

Quest Partners LLC lessened its position in shares of UGI Co. (NYSE:UGI) by 18.1% during the third quarter, Holdings Channel reports. The institutional investor owned 17,327 shares of the utilities provider’s stock after selling 3,825 shares during the quarter. Quest Partners LLC’s holdings in UGI were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in UGI by 28.7% during the second quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock worth $81,014,000 after purchasing an additional 788,457 shares during the period. LSV Asset Management boosted its holdings in UGI by 13.3% in the 2nd quarter. LSV Asset Management now owns 3,024,750 shares of the utilities provider’s stock worth $69,267,000 after buying an additional 356,200 shares during the period. ProShare Advisors LLC grew its stake in UGI by 84.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,445,010 shares of the utilities provider’s stock valued at $55,991,000 after buying an additional 1,122,766 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in UGI during the 2nd quarter valued at $53,371,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of UGI by 32.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,327,248 shares of the utilities provider’s stock worth $53,293,000 after acquiring an additional 566,416 shares in the last quarter. Institutional investors own 82.34% of the company’s stock.

Analyst Ratings Changes

UGI has been the topic of a number of analyst reports. Mizuho upgraded UGI from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $30.00 in a research note on Friday, November 15th. Jefferies Financial Group started coverage on UGI in a research report on Friday. They set a “buy” rating and a $28.00 price target on the stock. StockNews.com cut shares of UGI from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company increased their target price on shares of UGI from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

UGI Stock Up 15.0 %

Shares of NYSE UGI opened at $28.50 on Friday. UGI Co. has a 12 month low of $21.51 and a 12 month high of $28.66. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 22.98 and a beta of 1.13. The business has a 50-day moving average of $24.40 and a 200-day moving average of $24.10.

UGI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Monday, December 16th will be paid a $0.375 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.26%. UGI’s dividend payout ratio (DPR) 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.