Clear Harbor Asset Management LLC Makes New $787,000 Investment in UGI Corporation $UGI

Clear Harbor Asset Management LLC acquired a new stake in UGI Corporation (NYSE:UGI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,797 shares of the utilities provider’s stock, valued at approximately $787,000.

A number of other hedge funds also recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC grew its stake in UGI by 4.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,733 shares of the utilities provider’s stock valued at $282,000 after buying an additional 303 shares during the last quarter. Versant Capital Management Inc lifted its position in UGI by 45.6% during the second quarter. Versant Capital Management Inc now owns 1,268 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 397 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in UGI by 4.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 9,842 shares of the utilities provider’s stock worth $368,000 after acquiring an additional 456 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of UGI by 17.0% during the fourth quarter. Parallel Advisors LLC now owns 4,992 shares of the utilities provider’s stock worth $187,000 after acquiring an additional 724 shares during the period. Finally, Chase Investment Counsel Corp grew its position in shares of UGI by 3.5% in the second quarter. Chase Investment Counsel Corp now owns 29,656 shares of the utilities provider’s stock valued at $1,024,000 after purchasing an additional 993 shares during the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Kathleen Shea-Ballay sold 25,360 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $33.62, for a total value of $852,603.20. Following the completion of the transaction, the insider owned 25,360 shares of the company’s stock, valued at $852,603.20. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by company insiders.

UGI Trading Down 0.0%

Shares of UGI stock opened at $37.58 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 1.28. The stock has a market cap of $8.06 billion, a P/E ratio of 12.57 and a beta of 0.93. The stock has a 50 day simple moving average of $35.68 and a 200 day simple moving average of $36.13. UGI Corporation has a 1 year low of $31.62 and a 1 year high of $41.34.

UGI (NYSE:UGI) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.50 billion. UGI had a return on equity of 12.80% and a net margin of 9.20%. On average, research analysts predict that UGI Corporation will post 2.85 earnings per share for the current fiscal year.

UGI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.375 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.0%. UGI’s dividend payout ratio (DPR) is presently 50.17%.

Analyst Upgrades and Downgrades

UGI has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price (down from $45.00) on shares of UGI in a research note on Thursday, April 30th. Wall Street Zen lowered UGI from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Wells Fargo & Company lowered their price objective on UGI from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Zacks Research cut shares of UGI from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Weiss Ratings downgraded shares of UGI from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, UGI has an average rating of “Hold” and a consensus target price of $42.00.

UGI Company Profile

UGI Corporation (NYSE: UGI) is a publicly traded energy distribution company headquartered in King of Prussia, Pennsylvania. Founded in 1882 as the United Gas Improvement Company, UGI has grown into a diversified provider of energy products and services. The company’s operations are organized into three primary segments—AmeriGas Propane, UGI Utilities and UGI International—each focused on the delivery of propane, natural gas and related services to residential, commercial and industrial customers.

AmeriGas Propane, UGI’s largest segment, is the leading retail propane distributor in the United States with a network of dealers serving customers in all 50 states.