Massachusetts Financial Services Co. MA Buys 35,562 Shares of UGI Co. (NYSE:UGI)

Massachusetts Financial Services Co. MA grew its stake in UGI Co. (NYSE:UGI) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,026,717 shares of the utilities provider’s stock after purchasing an additional 35,562 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.48% of UGI worth $25,688,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of UGI by 28.7% in the second quarter. Federated Hermes Inc. now owns 3,537,729 shares of the utilities provider’s stock valued at $81,014,000 after purchasing an additional 788,457 shares during the period. LSV Asset Management increased its position in UGI by 13.3% during the second quarter. LSV Asset Management now owns 3,024,750 shares of the utilities provider’s stock worth $69,267,000 after acquiring an additional 356,200 shares during the period. ProShare Advisors LLC increased its position in UGI by 84.9% during the second quarter. ProShare Advisors LLC now owns 2,445,010 shares of the utilities provider’s stock worth $55,991,000 after acquiring an additional 1,122,766 shares during the period. Jupiter Asset Management Ltd. bought a new position in UGI during the second quarter worth about $53,371,000. Finally, Dimensional Fund Advisors LP increased its position in 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 during the period. 82.34% of the stock is owned by institutional investors.

UGI Price Performance

UGI stock opened at $29.34 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 1.34. UGI Co. has a 12 month low of $21.51 and a 12 month high of $29.51. The firm has a market cap of $6.30 billion, a P/E ratio of 23.66 and a beta of 1.13. The company’s 50-day moving average price is $24.51 and its two-hundred day moving average price is $24.12.

UGI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 16th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Monday, December 16th. UGI’s dividend payout ratio is currently 120.97%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho raised shares of UGI from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $30.00 in a research report on Friday, November 15th. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company raised their price target 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. Finally, Jefferies Financial Group assumed coverage on shares of UGI in a research report on Friday. They set a “buy” rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, UGI presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

UGI 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.