UGI (NYSE:UGI) Issues Earnings Results

UGI (NYSE:UGI) posted its quarterly earnings results on Wednesday. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.32, Briefing.com reports. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $3.07 billion. UGI had a positive return on equity of 14.09% and a negative net margin of 5.48%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 EPS. UGI updated its FY24 guidance to $2.70-3.00 EPS and its FY 2024 guidance to 2.700-3.000 EPS.

UGI Stock Down 6.4 %

Shares of UGI stock traded down $1.66 during trading hours on Thursday, reaching $24.23. The company’s stock had a trading volume of 5,386,467 shares, compared to its average volume of 2,078,528. The company has a market capitalization of $5.08 billion, a P/E ratio of -10.78 and a beta of 1.13. The stock’s fifty day simple moving average is $24.63 and its two-hundred day simple moving average is $23.45. UGI has a one year low of $20.19 and a one year high of $33.14. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.79 and a current ratio of 0.98.

Analyst Ratings Changes

Several brokerages recently issued reports on UGI. StockNews.com lowered shares of UGI from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Mizuho raised their target price on UGI from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. TheStreet raised UGI from a “d+” rating to a “c-” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company lowered UGI from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $27.00 to $28.00 in a report on Thursday, March 14th.

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.