Ugi Corp - UGI STOCK NEWS

UGI Corporation (NYSE: UGI) reported Q1 2022 results, showing a GAAP diluted EPS of $(0.46) and an adjusted EPS of $0.93, down from $1.44 and $1.18 respectively in Q1 2021. Results were affected by record warm December weather and high commodity price volatility, impacting LPG and energy marketing margins. Strategic investments in natural gas partially offset these challenges. Notable developments include a regulatory approval for a joint venture with SHV Energy, a partnership with Vertimass for renewable fuels, and an acquisition of Stonehenge.

UGI Corporation (NYSE: UGI) has declared a quarterly dividend of $0.345 per share, payable on April 1, 2022, to shareholders of record as of March 15, 2022. This marks the 137th consecutive year of dividend payments, with increases for the last 34 years. Additionally, a quarterly dividend of 0.125% per annum will be paid on convertible preferred stock on March 1, 2022. UGI distributes energy products and services across several states and internationally, showcasing its stability and commitment to shareholder returns.

Stonehenge Energy Resources II has completed the sale of Stonehenge Appalachia, a midstream natural gas gathering system, to UGI Energy Services for $190 million. Located in Butler County, Pennsylvania, the system includes over 47 miles of pipeline and compression assets. This transaction marks the second collaboration between Stonehenge and UGI in under a year, reinforcing their partnership in the Appalachian Basin. Stonehenge continues its growth strategy with existing operations in the region and aims to capitalize on future opportunities.

UGI Corporation (NYSE:UGI) will report its first fiscal quarter earnings on February 2, after market close. A conference call is scheduled for 9:00 AM ET on February 3, where results and current activities will be discussed. Interested parties can access the live audio webcast and replay on the company's investor relations page. A telephonic replay will be available from 12:00 PM ET on February 3 to 11:59 PM ET on February 10. UGI operates energy distribution and marketing services in the United States and internationally.

UGI Corporation (NYSE: UGI) has signed a 15-year agreement with Vertimass to develop facilities producing renewable fuels from renewable ethanol in the U.S. and Europe. The collaboration aims to create renewable-propane and sustainable aviation fuel (SAF) utilizing Vertimass' catalytic technology. UGI plans to invest approximately $500 million over 15 years to build multiple production sites, targeting 1 billion gallons of renewable fuels annually by fiscal year 2024. This partnership emphasizes UGI’s commitment to low-carbon energy solutions and regional market adaptability.

UGI Utilities has initiated the acceptance of Renewable Natural Gas (RNG) from Archaea Energy, marking a significant expansion in its pipeline distribution. With an interconnect agreement signed in Fiscal 2021, the new system can accommodate up to 5.3 billion cubic feet of RNG annually, representing the largest RNG supply point in the U.S. The Pennsylvania Public Utility Commission approved a five-year pilot program, allowing UGI to incorporate RNG into its supply for customers starting in 2022. This initiative aims to lower carbon emissions and support sustainable energy practices.

UGI Corporation announced that its subsidiary, UGI Energy Services, has agreed to acquire Stonehenge Appalachia for approximately $190 million. This acquisition is expected to enhance UGI's presence in the Appalachian Basin and is projected to be immediately accretive to adjusted earnings. The Stonehenge system comprises over 47 miles of pipeline and has a gathering capacity of 130 million cubic feet per day. The deal, subject to regulatory approval, is anticipated to close by January 31, 2022.

UGI Corporation (NYSE: UGI) and SHV Energy have received approval from the European Commission to establish a joint venture aimed at advancing the production and utilization of renewable dimethyl ether (rDME). This important development allows them to operate the joint venture starting in early 2022. The partners plan to develop up to six production plants over five years, targeting a total capacity of 300,000 tons of rDME annually by 2027, with an estimated investment of up to $1 billion. This venture positions UGI to enhance its market presence in the renewable energy sector.