Ugi Corp Stock Price, News & Analysis

UGI Corporation (NYSE: UGI) reported record financial results for the fiscal year ended September 30, 2021. GAAP net income reached $1.467 billion, while adjusted net income stood at $629 million. GAAP diluted EPS was $6.92, and adjusted diluted EPS was $2.96. The company completed the acquisition of Mountaineer Gas Company, enhancing its service area significantly. For fiscal 2022, UGI forecasts adjusted diluted EPS in the range of $3.05 to $3.25, indicating a commitment to 6-10% long-term EPS growth.

The Board of Directors of UGI Corporation (NYSE: UGI) has announced a quarterly dividend of $0.345 per share, payable on January 1, 2022 to shareholders of record by December 15, 2021. UGI has maintained a strong dividend history, with 137 consecutive years of payments and 34 years of increases. Additionally, a 0.125% per annum cash dividend on the convertible preferred stock (part of Equity Units, NYSE: UGIC) will be paid on December 1, 2021.

UGI Corporation (NYSE: UGI) will hold a virtual investor day on December 2, 2021, from 10:00 a.m. to 12:00 p.m. ET. CEO Roger Perreault and the executive team will present the company’s strategic plan, growth drivers, and financial objectives. Participants can pre-register here. A replay will be available on UGI’s corporate site post-event. The investor day will include webcast and dial-in options for attendees.

Cayuga RNG, a joint venture of UGI Energy Services and Global Common Energy, plans to develop its third renewable natural gas project at El-Vi Farms in upstate New York. This project follows the Spruce Haven and Allen Farms projects and represents nearly $50 million in investments within the renewable energy sector. Once operational in early 2023, the facility is anticipated to generate 55 million cubic feet of RNG annually for local pipelines. UGIES’ subsidiary, GHI Energy, will handle marketing for Cayuga RNG.

UGI Utilities has received regulatory approval from the Pennsylvania Public Utility Commission for a five-year pilot program to purchase renewable natural gas (RNG). This initiative is the first of its kind in Pennsylvania, aimed at integrating RNG into UGI's supply portfolio while reducing costs for customers. The program, which received unanimous support from PA PUC Commissioners, will leverage economic incentives to mitigate the expenses associated with RNG procurement. UGI has also established an interconnect agreement with Archaea Energy, which will enable the delivery of up to 16,000 mcf of RNG daily, making it the largest RNG supply point in the U.S.

UGI Corporation (NYSE:UGI) will announce its fourth fiscal quarter earnings after market close on November 18. A live audio webcast of the conference call is scheduled for 9:00 AM ET on November 19, where the company will discuss its results and current activities. The audio webcast will be available live and for replay on the company's website. A telephonic replay can also be accessed from 12:00 PM ET on November 19 to 11:59 PM ET on November 26.

MBL Bioenergy, a joint venture involving UGI Energy Services, has announced agreements to develop dairy farm digester projects in South Dakota aimed at producing renewable natural gas (RNG). The projects are expected to yield 650 million cubic feet of RNG annually by the end of 2024, representing an investment exceeding $100 million. UGI's subsidiary GHI Energy will exclusively market the RNG. This initiative aligns with UGI's strategy to enhance its position in sustainable energy and contribute to greenhouse gas reduction.

Cayuga RNG Holdings has announced its second renewable natural gas (RNG) project in upstate New York, following its first initiative at Spruce Haven Farm. Located at Allen Farms, the project will utilize dairy waste as feedstock for an anaerobic digester and is expected to produce 85 million cubic feet of RNG annually. The total commitment to renewable RNG projects now exceeds $100 million. UGI Energy Services, a subsidiary of UGI Corporation (NYSE: UGI), will play a significant role in this project as the exclusive off-taker and marketer of the RNG.

UGI Corporation has successfully completed the acquisition of Mountaintop Energy Holdings LLC, valued at $540 million, enhancing its utility operations in the mid-Atlantic region. Mountaineer Gas Company, now a wholly-owned subsidiary, serves nearly 215,000 customers across West Virginia. C. David Lokant has been appointed as president. The acquisition allows UGI to invest in the enhancement of natural gas distribution systems, focusing on environmentally responsible energy solutions. This strategic move supports UGI's commitment to reliable earnings growth and portfolio rebalancing.