Is UGI Corp. (UGI) a Worthy Investment?

Miller Value Partners, an investment management company, released its “Income Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the strategy returned 11.69% net of fees versus a 1.52% return for the benchmark, ICE BofA US High Yield Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Miller Value Income Strategy featured stocks like UGI Corporation (NYSE:UGI) in the Q1 2024 investor letter. Headquartered in King of Prussia, Pennsylvania, UGI Corporation (NYSE:UGI) markets and distributes energy products and services. On April 15, 2024, UGI Corporation (NYSE:UGI) stock closed at $23.52 per share. One-month return of UGI Corporation (NYSE:UGI) was -3.49%, and its shares lost 32.00% of their value over the last 52 weeks. UGI Corporation (NYSE:UGI) has a market capitalization of $4.929 billion.

Miller Value Income Strategy stated the following regarding UGI Corporation (NYSE:UGI) in its first quarter 2024 investor letter:

“The portfolio also recently bought its first utility. UGI Corporation (NYSE:UGI) distributes natural gas and electricity as well as liquid propane gas through its AmeriGas subsidiary, which is the largest retail propane distributor in the US. A true “dividend aristocrat,” UGI has paid shareholders a dividend for 139 consecutive years and looks poised to boost its dividend for the 37th consecutive year. At today’s price, the stock trades at its lowest price/earnings multiple in history, despite sporting a 6% yield with a plan to grow earnings power at a high single-digit rate.”

A view of the skyline from an electricity pylon, to show the ubiquity of the companies energy products.

UGI Corporation (NYSE:UGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, UGI Corporation (NYSE:UGI) was held by 33 hedge fund portfolios, compared to 29 in the previous quarter, according to our database.

We previously discussed UGI Corporation (NYSE:UGI) in another article, where we shared the list of best dividend stocks of all time. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.