Econ Financial Services Corp Sells 5,895 Shares of UGI Co. (NYSE:UGI)

Econ Financial Services Corp trimmed its holdings in UGI Co. (NYSE:UGI) by 6.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 78,978 shares of the utilities provider’s stock after selling 5,895 shares during the quarter. UGI makes up about 1.3% of Econ Financial Services Corp’s holdings, making the stock its 24th largest position. Econ Financial Services Corp’s holdings in UGI were worth $2,230,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in UGI. Citigroup Inc. boosted its holdings in UGI by 33.0% during the 3rd quarter. Citigroup Inc. now owns 203,313 shares of the utilities provider’s stock worth $5,087,000 after acquiring an additional 50,485 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in UGI by 2,402.0% during the third quarter. International Assets Investment Management LLC now owns 26,046 shares of the utilities provider’s stock worth $652,000 after purchasing an additional 25,005 shares during the last quarter. FMR LLC grew its position in UGI by 42.0% in the 3rd quarter. FMR LLC now owns 9,418,865 shares of the utilities provider’s stock worth $235,660,000 after purchasing an additional 2,786,878 shares in the last quarter. JPMorgan Chase & Co. increased its stake in UGI by 35.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,227,732 shares of the utilities provider’s stock valued at $30,718,000 after buying an additional 318,655 shares during the last quarter. Finally, Commerce Bank bought a new position in shares of UGI during the 3rd quarter worth approximately $645,000. 82.34% of the stock is currently owned by institutional investors and hedge funds.

UGI Price Performance

Shares of NYSE UGI opened at $31.08 on Wednesday. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 25.06 and a beta of 1.21. The stock has a fifty day simple moving average of $28.97 and a two-hundred day simple moving average of $26.02. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.48. UGI Co. has a 1-year low of $22.01 and a 1-year high of $31.24.

UGI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Monday, December 16th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 4.83%. The ex-dividend date was Monday, December 16th. UGI’s dividend payout ratio (DPR) is currently 120.97%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UGI shares. Wells Fargo & Company upped their target price on UGI from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Mizuho raised UGI from a “neutral” rating to an “outperform” rating and raised their target price for the company from $27.00 to $30.00 in a research report on Friday, November 15th. Finally, Jefferies Financial Group began coverage on shares of UGI in a report on Friday, November 22nd. They issued a “buy” rating and a $28.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, UGI currently has an average rating of “Moderate Buy” and an average target price 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.