Welcome to our dedicated page for Ugi news (Ticker: UGI), a resource for investors and traders seeking the latest updates and insights on Ugi stock.
UGI Corporation reports developments across its energy distribution, marketing, midstream and utility businesses in the U.S. and Europe. The company operates through subsidiaries involved in propane distribution, LPG distribution, natural gas transmission and distribution, electric generation and distribution, renewable natural gas, midstream services and energy marketing.
Recurring UGI news includes fiscal earnings announcements, common stock dividend declarations, AmeriGas propane updates, subsidiary financing and debt-management actions, and UGI Energy Services infrastructure and customer arrangements. Coverage also reflects developments tied to regulated utility operations, energy supply services and capital-structure activity across UGI’s operating subsidiaries.
SHV Energy and UGI International, a subsidiary of UGI Corporation (NYSE: UGI), announced a joint venture to produce Renewable Dimethyl Ether (rDME), a sustainable low-carbon liquid gas. The venture aims to establish up to 6 production plants by 2027, targeting a capacity of 300 kilotons annually with an investment of up to $1 billion. This initiative promotes rDME as an alternative for the LPG industry, reducing GHG emissions by up to 85%. The joint venture seeks to enhance market acceptance and develop infrastructure for safe rDME usage.
UGI Corporation (NYSE: UGI) has announced a public offering of 2,000,000 equity units expected to generate approximately $191.9 million in net proceeds. The funds will be used primarily for the acquisition of Mountaineer Gas Company and other corporate purposes. Each unit includes a stock purchase contract and a 10% interest in new convertible preferred stock. The offering includes a 30-day option for underwriters to purchase an additional 200,000 units. The offering settlement is set for May 25, 2021, and completion is subject to customary conditions.
UGI Corporation (NYSE: UGI) plans to offer 2,000,000 equity units in a public offering, with a 30-day underwriters' option for an additional 200,000 units. The proceeds will fund part of its acquisition of Mountaineer Gas Company and cover related expenses. Each unit, priced at $100, consists of a purchase contract and a 10% interest in a new series of convertible preferred stock. Holders can settle contracts early, affecting the number of common shares issued. The offering is registered with the SEC and will be conducted by major financial institutions.
UGI Corporation (NYSE: UGI) released its third Environmental, Social, and Governance (ESG) report titled, The Foundation of a Renewable Energy Future. The report outlines UGI's plans to reduce Scope I emissions by 55% within five years, aligning with the Paris Climate Accord. Key initiatives include investing in low carbon alternatives like CNG and RNG, and enhancing safety with a 35% reduction in total recordable injuries by 2025. UGI launched the BIDE initiative to boost diversity and promoted community engagement with over 37,000 hours volunteered. CEO John L. Walsh emphasizes UGI's commitment to sustainable energy solutions.
UGI Corporation reported strong fiscal Q2 results for the quarter ending March 31, 2021, with GAAP diluted EPS of $2.33 and adjusted diluted EPS of $1.99, a substantial increase from $1.07 and $1.56 respectively, year-over-year. Year-to-date EPS also rose to $3.77 (GAAP) and $3.17 (adjusted). The company achieved $630 million in EBIT, driven by colder weather, effective margin management, and the recent base rate increases. Cash flow from operations grew by 15%. UGI raised its adjusted EPS guidance to $2.90 - $3.00 for fiscal 2021, underscoring robust performance amid challenges posed by COVID-19.
UGI Corporation (NYSE: UGI) has declared a quarterly dividend of $0.345 per share, marking a 4.5% increase. This dividend is payable on July 1, 2021 to shareholders on record as of June 15, 2021. This announcement highlights UGI's 34th consecutive year of increasing dividends and its robust financial performance, boasting a 7.8% compound annual growth rate over the past five years. UGI has maintained a consistent dividend payment for 137 years and continues to demonstrate confidence in its earnings growth and cash flow.
Cayuga RNG Holdings has announced agreements to develop dairy farm digester projects for renewable natural gas (RNG) in upstate New York. The first project at Spruce Haven Farm aims to produce 50 million cubic feet of RNG annually from dairy waste, utilizing an existing biogas digester. Completion is targeted for the second half of 2022. Cayuga RNG is also exploring additional projects in the region. This initiative supports UGI's sustainability goals and greenhouse gas reduction strategies while financially benefiting local dairy farms by monetizing waste.
UGI Corporation (NYSE: UGI) announces the retirement of John L. Walsh as President and CEO effective June 25, 2021. Walsh, CEO since 2013, will remain on the Board of Directors. Roger Perreault, previously Executive VP of Global LPG and President of UGI International, will succeed him. Walsh's tenure saw significant growth through key acquisitions like Totalgaz France and AmeriGas, and advancements in environmental initiatives. The transition aims to continue UGI's focus on renewable energy and operational excellence.
UGI Corporation (NYSE:UGI) is set to announce its second fiscal quarter earnings on May 5, after market close. A live webcast for the conference call will occur on May 6 at 9:00 AM ET, where company results and activities will be discussed. Interested parties can access the live audio and replay on the UGI investor page. The company's operations include natural gas and electric utilities, LPG distribution, and energy marketing across multiple states and internationally in Europe.
UGI Corporation (NYSE:UGI) has joined the Natural Gas Supply Collaborative (NGSC), increasing its membership to 17 companies. The NGSC includes utilities and power generators dedicated to promoting safe natural gas supply practices, collectively serving over 60 million households. UGI aims to enhance its Environmental, Social and Governance (ESG) initiatives, focusing on reducing methane and greenhouse gas emissions. The company operates natural gas and electric utilities in Pennsylvania and distributes LPG both domestically and internationally.