UGI (NYSE:UGI) Announces Quarterly Earnings Results

UGI (NYSE:UGI) released its quarterly earnings results on Wednesday. The utilities provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.32, Briefing.com reports. The company had revenue of $2.47 billion during 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 business’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 earnings per share. 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 7.1 %

Shares of UGI traded down $1.85 during midday trading on Thursday, reaching $24.04. 3,986,090 shares of the company were exchanged, compared to its average volume of 2,068,230. The stock has a 50-day moving average price of $24.63 and a 200-day moving average price of $23.45. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -10.78 and a beta of 1.13. UGI has a 1-year low of $20.19 and a 1-year high of $33.14. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on UGI shares. StockNews.com downgraded shares of UGI from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Mizuho raised their target price on shares of UGI from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. TheStreet raised shares of UGI from a “d+” rating to a “c-” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company cut UGI from an “overweight” rating to an “equal weight” rating and lifted their target price for the company 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.