UGI (NYSE:UGI – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.70-3.00 for the period, compared to the consensus earnings per share estimate of $2.86.

UGI Price Performance

UGI stock traded down $0.61 during midday trading on Tuesday, reaching $22.10. 2,220,839 shares of the stock traded hands, compared to its average volume of 1,947,339. The company has a quick ratio of 0.71, a current ratio of 0.90 and a debt-to-equity ratio of 1.55. UGI has a 12 month low of $20.19 and a 12 month high of $43.19. The stock’s fifty day moving average is $21.65 and its 200-day moving average is $24.26. The stock has a market cap of $4.66 billion, a P/E ratio of -3.16, a PEG ratio of 1.01 and a beta of 1.08.

UGI (NYSE:UGI – Get Free Report) last announced its earnings results on Thursday, November 16th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. UGI had a negative net margin of 16.82% and a positive return on equity of 13.25%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $2.02 billion. As a group, equities research analysts anticipate that UGI will post 2.84 EPS for the current year.

UGI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.79%. UGI’s dividend payout ratio is presently -20.89%.

Analyst Ratings Changes

Several analysts have recently weighed in on UGI shares. Mizuho decreased their target price on UGI from $33.00 to $29.00 and set a neutral rating for the company in a research report on Monday, September 11th. StockNews.com raised shares of UGI from a sell rating to a hold rating in a research report on Thursday, November 23rd. Finally, Wells Fargo & Company raised shares of UGI from an equal weight rating to an overweight rating and reduced their target price for the stock from $28.00 to $27.00 in a research report on Monday, August 28th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, UGI currently has an average rating of Hold and an average price target of $31.00.

View Our Latest Stock Report on UGI

Institutional Trading of UGI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC acquired a new position in shares of UGI in the 4th quarter valued at $203,745,000. Norges Bank acquired a new position in shares of UGI in the fourth quarter valued at about $58,631,000. BlackRock Inc. raised its stake in shares of UGI by 3.4% in the first quarter. BlackRock Inc. now owns 35,154,665 shares of the utilities provider’s stock worth $1,221,976,000 after purchasing an additional 1,150,654 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of UGI by 5.0% during the third quarter. Vanguard Group Inc. now owns 24,130,520 shares of the utilities provider’s stock worth $780,140,000 after purchasing an additional 1,141,345 shares during the period. Finally, State Street Corp boosted its position in UGI by 5.5% in the second quarter. State Street Corp now owns 18,567,208 shares of the utilities provider’s stock valued at $507,628,000 after buying an additional 974,540 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

UGI Company Profile (Get Free Report)

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.

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Original: MarketBeat News Feed: UGI (NYSE:UGI) Issues FY24 Earnings Guidance