Fintel reports that on August 28, 2023, Wells Fargo upgraded their outlook for UGI (NYSE:UGI) from Equal-Weight to Overweight.

Analyst Price Forecast Suggests 70.67% Upside

As of August 1, 2023, the average one-year price target for UGI is 38.76. The forecasts range from a low of 24.24 to a high of $63.00. The average price target represents an increase of 70.67% from its latest reported closing price of 22.71.

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The projected annual revenue for UGI is 9,136MM, a decrease of 3.40%. The projected annual non-GAAP EPS is 3.01.

What is the Fund Sentiment?

There are 990 funds or institutions reporting positions in UGI. This is a decrease of 91 owner(s) or 8.42% in the last quarter. Average portfolio weight of all funds dedicated to UGI is 0.17%, a decrease of 17.20%. Total shares owned by institutions decreased in the last three months by 2.25% to 192,334K shares. The put/call ratio of UGI is 0.99, indicating a bullish outlook.

What are Other Shareholders Doing?

SDY – SPDR(R) S&P(R) Dividend ETF holds 8,147K shares representing 3.89% ownership of the company. In it’s prior filing, the firm reported owning 9,925K shares, representing a decrease of 21.83%. The firm decreased its portfolio allocation in UGI by 20.65% over the last quarter.

Deutsche Bank Ag\ holds 7,503K shares representing 3.58% ownership of the company. In it’s prior filing, the firm reported owning 7,623K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in UGI by 26.52% over the last quarter.

First Eagle Investment Management holds 6,689K shares representing 3.19% ownership of the company. In it’s prior filing, the firm reported owning 7,372K shares, representing a decrease of 10.20%. The firm decreased its portfolio allocation in UGI by 31.94% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 6,502K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 6,373K shares, representing an increase of 1.99%. The firm decreased its portfolio allocation in UGI by 11.65% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 6,350K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 6,465K shares, representing a decrease of 1.81%. The firm decreased its portfolio allocation in UGI by 27.00% over the last quarter.

UGI Background Information
(This description is provided by the company.)

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States, California, and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.

This article originally appeared on Fintel

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