UGI (NYSE:UGI) Announces Quarterly Earnings Results, Beats Estimates By $0.32 EPS

UGI (NYSE:UGI) issued 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 business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $3.07 billion. UGI had a positive return on equity of 14.09% and a negative net margin of 5.48%. UGI’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 %

NYSE UGI traded down $1.65 on Thursday, hitting $24.24. The stock had a trading volume of 4,726,816 shares, compared to its average volume of 2,076,146. The business’s fifty day moving average price is $24.63 and its 200 day moving average price is $23.45. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -10.78 and a beta of 1.13. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.98 and a quick ratio of 0.79. UGI has a 52-week low of $20.19 and a 52-week high of $33.14.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on UGI shares. TheStreet raised shares of UGI from a “d+” rating to a “c-” rating in a research note on Wednesday, February 21st. StockNews.com downgraded shares of UGI from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wells Fargo & Company downgraded 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 research report on Thursday, March 14th. Finally, Mizuho upped their price objective on UGI from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th.

UGI Company 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.