UGI Corp shareholders elect board, approve executive pay

In a recent 8-K filing with the Securities and Exchange Commission, UGI (NYSE:UGI) Corporation reported the outcomes of its Annual Meeting of Shareholders held on January 31, 2025. The company, currently valued at $6.7 billion by market capitalization, has shown strong momentum with a 29% price return over the past six months. During the meeting, shareholders voted on several key issues, including the election of board members, executive compensation, and the appointment of the company’s independent auditor for the fiscal year 2025.

All ten nominees for UGI’s Board of Directors were elected, with votes in favor ranging from 158,491,862 to 161,948,570. The number of votes against each nominee varied but was significantly lower, indicating strong shareholder support for the proposed board.

Shareholders also showed support for the company’s executive compensation plan, with 153,828,694 votes in favor and 8,917,151 against. The advisory vote on executive pay is a routine matter at annual meetings, providing shareholders the opportunity to express their approval or disapproval of the company’s compensation strategies.

The appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year 2025 was ratified with an overwhelming majority of 184,314,848 votes for and only 673,709 against.

However, a shareholder proposal regarding a director election resignation governance guideline did not pass. The proposal received 33,808,066 votes for and 128,602,635 against, with 910,371 abstentions.

The filing, signed by Secretary Jessica A. Milner on February 4, 2025, confirms that the information is based on a press release statement and provides a factual summary of the events and decisions taken during the meeting. According to InvestingPro, UGI currently shows several positive indicators, including anticipated sales growth and strong profitability metrics. InvestingPro subscribers have access to 12 additional key insights about UGI’s financial health and growth prospects.

UGI Corporation, listed on the New York Stock Exchange under the symbol UGI, is a Pennsylvania-based company operating in the gas and other services combined industry. The company’s business address is in King of Prussia, PA, where it also maintains its principal executive offices. With a remarkable track record of maintaining dividend payments for 54 consecutive years and raising them for 32 straight years, UGI currently offers a 4.8% dividend yield. InvestingPro analysis suggests the stock is currently undervalued, with investors anticipating the company’s next earnings report on February 5, 2025. For comprehensive analysis of UGI and 1,400+ other stocks, including detailed valuation metrics and expert insights, explore the Pro Research Report available on InvestingPro.

In other recent news, UGI Corporation has been the focus of several major developments. The company reported a strong financial performance for fiscal year 2024, with record adjusted diluted earnings per share (EPS) of $3.06, reflecting a 5-year compound annual growth rate (CAGR) of 6%. This was accompanied by a significant return of approximately $320 million to shareholders through dividends.

UGI Corporation also announced the appointment of Michael Sharp (OTC:SHCAY) as President of AmeriGas Propane. Sharp, who previously served as Vice President of Asset Management at Talen Energy, LLC, brings extensive experience in commodity management and operations to his new role.

On the analyst front, Jefferies and Mizuho (NYSE:MFG) Securities both recently adjusted their outlooks on UGI Corporation. Jefferies raised the company’s stock price target to $35, citing an optimistic outlook for the years 2025 to 2027, while Mizuho Securities increased the price target to $33, maintaining an Outperform rating on the stock. Both firms highlighted the company’s strategic focus, cost reduction efforts, and the restructuring process at AmeriGas as factors contributing to UGI’s positive outlook.

These recent developments underscore UGI Corporation’s commitment to operational efficiency, strategic growth, and shareholder value. The company’s strong performance and positive analyst ratings reflect its ongoing efforts to navigate the evolving energy market and deliver robust returns. The appointment of a new AmeriGas President further strengthens UGI’s leadership team, positioning the company for continued success.

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