Ugi Corp Stock Price, News & Analysis

UGI Corporation has announced a significant investment of approximately $150 million in two new renewable natural gas (RNG) projects in South Dakota. These projects, developed by MBL Bioenergy, are expected to generate around 525 million cubic feet of RNG annually upon completion in 2024. GHI Energy, a subsidiary of UGI, will exclusively market the RNG produced. The initiative is part of UGI's ongoing commitment to reduce greenhouse gas emissions and promote sustainable energy solutions.

UGI Corporation (NYSE: UGI) announced that the sale of its French energy marketing business will not occur in the first quarter of Fiscal 2023, as negotiations ceased. Despite this setback, the company reaffirmed its Fiscal 2023 adjusted diluted EPS guidance of $2.85 - $3.15, including a projected loss of 10 – 12 cents from the European business. UGI remains committed to transitioning away from this segment while targeting 6% - 10% EPS growth and 4% dividend growth in the long term.

UGI Corporation has appointed Robert F. Beard as its new Chief Operations Officer (COO), effective immediately. Beard, who has a strong track record within the company, will oversee both the Global LPG and Natural Gas lines of business. This structural change aims to enhance operational efficiency and customer service while pursuing a cohesive strategy across the company. UGI's leadership believes this move will facilitate better execution of their strategic plan and drive long-term value for shareholders, while focusing on reliability, renewable investment, and portfolio rebalancing.

UGI Corporation (NYSE: UGI) reported GAAP net income of $1,073 million and adjusted net income of $626 million for the fiscal year ending September 30, 2022. This reflects a decline from the prior year's GAAP net income of $1,467 million. GAAP diluted EPS was $4.97, down from $6.92. The company achieved EBIT of $1,166 million, an increase from $1,134 million. UGI announced fiscal 2023 adjusted diluted EPS guidance of $2.85-$3.15, maintaining a long-term growth target of 6%-10%. The firm divested UK energy marketing and plans to sell its French operations.

UGI Corporation (NYSE: UGI) has declared a quarterly dividend of $0.36 per share, payable on January 1, 2023, to shareholders of record as of December 15, 2022. This marks the 138th consecutive year of common dividends and a 35-year streak of increases. Additionally, a dividend of 0.125% per annum will be paid on the Company’s convertible preferred stock on December 1, 2022. UGI operates in energy distribution and marketing across several states and internationally, reinforcing its commitment to shareholder returns.

UGI Corporation has announced a new renewable natural gas (RNG) project in upstate New York. Developed in partnership with Global Common Ventures, the project will modify an existing anaerobic biogas facility at New Hope View Farms. Expected to be completed in the second half of 2024, the facility aims to produce 35 million cubic feet of RNG annually, contributing to local natural gas supplies. This initiative marks a significant expansion of UGI's RNG business and aligns with the company's sustainability goals.

UGI Corporation has divested its UK energy marketing business, formerly AvantiGas ON, to British Gas as of October 21, 2022. This business supplied natural gas to around 13,000 business meter points in the UK. Following a strategic review, UGI anticipates a 20-25% reduction in volumes for Fiscal 2023 as it continues to evaluate its remaining operations in France, Belgium, and the Netherlands. The divestment aligns with UGI's strategic growth objectives in the energy sector.

UGI Corporation (NYSE: UGI) will announce its fiscal year 2022 earnings after market close on November 17. A conference call is scheduled for 9:00 AM ET on November 18, where the company will discuss its financial outlook, key strategic priorities, and business updates. UGI operates in energy distribution and marketing, including natural gas and electric utilities in Pennsylvania and West Virginia, as well as LPG distribution through AmeriGas and UGI International.

UGI Corporation announced the retirement of John L. Walsh from its Board of Directors, effective at the annual shareholder meeting in January 2023. Frank S. Hermance, Chair of the Board, expressed gratitude for Walsh's leadership during his 17 years of service and for his role in the CEO transition to Roger Perreault. Perreault highlighted Walsh's mentorship and commitment to stakeholders. The company continues to focus on delivering energy solutions and growth strategies.