Ugi Corp Stock Price, News & Analysis

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UGI Corporation (NYSE: UGI) will release its second fiscal quarter earnings on May 3, 2023, after market close. A conference call will be held the following day at 9:00 AM ET, available via live internet audio webcast. UGI provides a range of energy solutions including natural gas transmission, electric generation, and propane distribution across the US and Europe. The company is committed to delivering safe and sustainable energy products to its customers.

UGI Corporation (NYSE: UGI) has announced that Sean P. O’Brien will succeed Ted Jastrzebski as Chief Financial Officer, effective April 11. Jastrzebski will assist in the transition until early June. CEO Roger Perreault praised Jastrzebski for enhancing the finance function and investor relations since 2018. O’Brien brings over 25 years of experience, including his role as CFO at DCP Midstream. His expertise in the energy sector is expected to bolster UGI's strategy focusing on reliable earnings growth, renewables, and portfolio rebalancing, aimed at delivering long-term value for shareholders.

UGI Corporation (NYSE: UGI) announced the resignation of James B. Stallings, Jr. from its Board of Directors, effective March 31, 2023, for personal reasons. Stallings, who served on the board since 2015, was recognized for his valuable contributions, particularly in employee development. Frank S. Hermance, Chair of the Board, and Roger Perreault, President and CEO, expressed their gratitude for his insights and dedication during his tenure. UGI Corporation is involved in distributing and marketing energy products and services, operating various utilities and energy assets in the U.S. and internationally.

UGI Energy Services and Archaea Energy have formed a joint venture, Aurum Renewables, to develop a renewable natural gas (RNG) project at the Commonwealth Environmental Systems landfill in Hegins, Pennsylvania. Archaea holds a 60% interest while UGIES holds 40%. UGIES will contribute its existing 11 MW landfill gas-to-electricity facility, and the new RNG facility aims to produce about 5,000 MMBtu per day. The project underscores UGI's commitment to renewable energy and aligns with its greenhouse gas emission reduction strategy.

UGI Corporation reported its fiscal Q1 results for the quarter ending December 31, 2022, with a GAAP diluted EPS of $(4.54) and adjusted diluted EPS of $1.14, an increase from $(0.46) and $0.93 in the prior period. The reportable segments earned $411 million in EBIT, compared to $348 million a year earlier. A strong liquidity position of approximately $1.2 billion supports the company’s strategy, which includes over $450 million invested in renewable natural gas projects. The CEO noted robust performance from natural gas businesses despite high inflation and weather challenges. Earnings from the Utilities segment rose by $30 million, driven by increased core market volume and colder weather.

The Board of Directors of UGI Corporation (NYSE: UGI) has declared a $0.36 quarterly dividend per share, payable on April 1, 2023, to shareholders on record as of March 15, 2023. UGI has consistently paid common dividends for 138 consecutive years and has raised its dividend for 35 consecutive years. Additionally, a quarterly dividend of 0.125% per annum on the Company’s convertible preferred stock will be paid in cash on March 1, 2023. UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, and distributes energy products both domestically and internationally.

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