Perigon Wealth Management LLC Makes New Investment in UGI Corporation (NYSE:UGI)

Perigon Wealth Management LLC acquired a new position in shares of UGI Corporation (NYSE:UGI) during the 1st quarter, Holdings Channel.com reports. The fund acquired 6,142 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of UGI by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,555,075 shares of the utilities provider’s stock valued at $72,130,000 after purchasing an additional 51,861 shares during the last quarter. Jump Financial LLC grew its position in UGI by 190.8% in the 4th quarter. Jump Financial LLC now owns 34,158 shares of the utilities provider’s stock valued at $964,000 after buying an additional 22,411 shares during the last quarter. QRG Capital Management Inc. purchased a new position in UGI in the 1st quarter valued at $534,000. Focus Partners Wealth purchased a new position in UGI in the 4th quarter valued at $331,000. Finally, GAMMA Investing LLC boosted its holdings in shares of UGI by 3,449.2% in the first quarter. GAMMA Investing LLC now owns 277,722 shares of the utilities provider’s stock valued at $8,398,000 after acquiring an additional 269,897 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on UGI shares. Wall Street Zen raised shares of UGI from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 14th. Mizuho lifted their price objective on UGI from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, May 15th.

UGI Price Performance

Shares of NYSE UGI opened at $35.14 on Wednesday. The firm has a market capitalization of $7.54 billion, a P/E ratio of 14.46, a PEG ratio of 2.24 and a beta of 1.05. UGI Corporation has a one year low of $22.01 and a one year high of $36.74. The company’s fifty day moving average is $35.19 and its two-hundred day moving average is $32.55. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.05 and a current ratio of 1.23.

UGI (NYSE:UGI) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.41. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $3.26 billion. UGI had a net margin of 7.28% and a return on equity of 16.21%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.97 earnings per share. Analysts forecast that UGI Corporation will post 3.02 EPS for the current fiscal year.

UGI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 16th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, June 16th. UGI’s dividend payout ratio (DPR) is 61.73%.

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.