UGI (NYSE:UGI) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Financial News Live · Feb 3, 2023 01:22

UGI (NYSE:UGI – Get Rating) posted its quarterly earnings results on Wednesday. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.08, Briefing.com reports. UGI had a return on equity of 10.91% and a net margin of 10.62%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company earned $0.93 EPS. UGI's revenue for the quarter was up 3.2% compared to the same quarter last year.

UGI Trading Up 3.3 %

UGI stock traded up $1.35 during trading on Thursday, hitting $41.83. The company's stock had a trading volume of 417,781 shares, compared to its average volume of 1,038,558. The stock's fifty day moving average is $38.77 and its 200 day moving average is $37.99. UGI has a 1-year low of $31.19 and a 1-year high of $45.16. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.28 and a current ratio of 1.56. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 1.68 and a beta of 1.07.

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UGI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Thursday, December 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.44 annualized dividend and a yield of 3.44%. UGI's payout ratio is currently 29.03%.

Wall Street Analysts Forecast Growth

UGI has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on UGI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 10th. TheStreet upgraded UGI from a "c+" rating to a "b-" rating in a research note on Thursday, December 22nd. Bank of America downgraded UGI from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $43.00 to $41.00 in a research note on Wednesday, November 23rd. Barclays lifted their price objective on UGI from $39.00 to $40.00 and gave the stock an "underweight" rating in a report on Thursday. Finally, StockNews.com initiated coverage on UGI in a report on Wednesday, October 12th. They set a "hold" rating for the company. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. According to data from MarketBeat, UGI has an average rating of "Hold" and an average target price of $41.00.

Institutional Investors Weigh In On UGI

A number of institutional investors have recently added to or reduced their stakes in the company. Allstate Corp grew its position in UGI by 1.9% during the first quarter. Allstate Corp now owns 16,470 shares of the utilities provider's stock valued at $597,000 after acquiring an additional 313 shares during the period. Eaton Vance Management boosted its position in shares of UGI by 0.4% in the first quarter. Eaton Vance Management now owns 82,676 shares of the utilities provider's stock worth $2,995,000 after buying an additional 344 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of UGI by 6.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,444 shares of the utilities provider's stock worth $249,000 after buying an additional 390 shares during the period. Quantamental Technologies LLC boosted its position in shares of UGI by 6.5% in the first quarter. Quantamental Technologies LLC now owns 7,820 shares of the utilities provider's stock worth $283,000 after buying an additional 480 shares during the period. Finally, Echo Street Capital Management LLC boosted its position in shares of UGI by 8.9% in the first quarter. Echo Street Capital Management LLC now owns 7,407 shares of the utilities provider's stock worth $268,000 after buying an additional 603 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

UGI Company Profile

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UGI Corp. is a holding company, which engages in the distribution and marketing of energy products and services. It operates through the following segments: AmeriGas Propane, UGI International, Midstream and Marketing, and Utilities. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P.

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