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Michael Sharp (OTC:SHCAY), President of a subsidiary of UGI Corp (NYSE:UGI), recently acquired 4,806 shares of UGI common stock, according to a recent SEC filing. The purchase, valued at approximately $160,039, took place on February 27, 2025. The shares were bought at prices ranging from $33.28 to $33.32 per share, just below the current trading price of $33.99. The $7.29 billion utility company offers a notable 4.39% dividend yield and has increased its dividend for 32 consecutive years, according to InvestingPro data.
This transaction brings Sharp’s total direct ownership to 4,806 shares following the acquisition. The filing also notes that the shares were purchased directly by Sharp, reflecting his confidence in the company’s performance. Trading at a P/E ratio of 13.1, the stock has shown strong momentum, currently trading near its 52-week high. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed UGI Research Report on InvestingPro.
In other recent news, UGI Corporation has made several strategic financial maneuvers. The company announced that its subsidiaries, AmeriGas Partners, L.P. and AmeriGas Finance Corp., will redeem all outstanding 5.500% Senior Notes due 2025 on March 7, 2025. This redemption will occur at the principal amount plus accrued interest, aligning with UGI’s financial management strategy. Additionally, AmeriGas Propane, L.P., another UGI subsidiary, has amended its credit agreement to adjust financial covenants, enhancing its liquidity position ahead of the 2025 Senior Notes maturity.
In corporate governance developments, UGI shareholders elected all ten board nominees and approved the executive compensation plan during the recent Annual Meeting. The appointment of KPMG LLP as the independent auditor for fiscal 2025 was also ratified. On the analyst front, Jefferies raised UGI’s stock price target to $35, citing a strong outlook fueled by a weather-related boost and strategic cost reductions. Mizuho (NYSE:MFG) Securities also increased its price target to $33, maintaining an Outperform rating and highlighting potential growth in UGI’s Midstream and Utilities segments.
These developments reflect UGI’s ongoing efforts to optimize its financial structure and strategic direction.
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