UGI Corporation (UGI) Stock Price & How to Invest

UGI Corporation, based in Valley Forge, Pennsylvania, runs four businesses that have less in common than the single ticker suggests. Utilities is the regulated core, a Pennsylvania natural gas distribution utility plus a small electric utility that UGI agreed in April 2026 to sell for ~$470 million, with closing expected in the second quarter of fiscal 2027. Midstream & Marketing owns pipelines, storage, LNG peaking capacity and gas marketing contracts across the Appalachian basin. UGI International sells LPG across Europe, a footprint UGI has been trimming through divestitures in Italy, Austria and Eastern Europe. AmeriGas Propane delivers propane to homes and businesses nationwide, and UGI describes it as the largest retail propane distributor in the country. The fiscal year ends September 30, so earnings land almost entirely in the winter quarters and the June quarter is normally a loss.

Over the twelve months ended June 30, 2026, UGI generated ~$7.3 billion of revenue and ~$671 million of net income, or ~$3.03 in diluted GAAP earnings per share. Segment earnings before interest and taxes tell the real story: Utilities contributed ~$438 million, Midstream & Marketing ~$285 million and UGI International ~$315 million, while AmeriGas produced only ~$141 million against ~$148 million of its own interest expense. Management reaffirmed fiscal 2026 adjusted earnings guidance of $2.75 to $2.90 per share, a range that had already been revised down during the year. Roughly $7.1 billion of debt sits against ~$5.2 billion of equity. Then on August 18, 2026, the Wall Street Journal reported that KKR had made an unsolicited ~$9 billion approach at $42.50 per share, which UGI has not confirmed and no agreement covers.

Weather is the single largest swing factor, and UGI's June-quarter results already reflected temperatures 23% warmer than normal in Europe and 10% warmer than normal across the midstream footprint. AmeriGas customer attrition has continued through the turnaround, and the trailing-year goodwill impairment of ~$192 million after tax in the prior period shows what happens when propane assumptions reset. Fiscal 2026 adjusted guidance of $2.75 to $2.90 was itself a downward revision, so the reaffirmation is a floor being defended rather than a raise. Legal exposure is real and specific: the March 2023 West Reading, Pennsylvania explosion killed seven people, discovery in the resulting lawsuits has begun, and on March 18, 2026 the Pennsylvania PUC filed a formal complaint alleging pipeline safety violations and seeking civil penalties. The reported KKR approach carries its own risk in both directions, because the company has not confirmed it, no agreement exists, and a shareholder who bought for the takeout would be left holding a mid-single-digit-growth utility if nothing comes of it.

3 analysts publish price targets on UGI, averaging $41.33 against a $38.39 price as of August 2026, or +7.7%. The published targets run from $40.00 to $42.00, a narrow spread, and the ratings split 2 buy, 1 hold, 0 sell. Over the last six months there have been 0 raises and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full UGI forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on UGI Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. The Pennsylvania rate case and utility capital spending. On July 31, 2026, administrative law judges issued a recommended decision accepting the settlement of UGI's gas base rate case with no modifications. The most optimistic published target, $42.00, assumes this works close to its best case.

The case against. Weather is the single largest swing factor, and UGI's June-quarter results already reflected temperatures 23% warmer than normal in Europe and 10% warmer than normal across the midstream footprint. The most pessimistic target, $40.00, is roughly what UGI is worth if this bites instead.

Read the full bull and bear case on UGI, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see UGI Corporation's investor relations page or your broker.

• Revenue (TTM ended June 30, 2026): ~$7,296M
• Net income (TTM): ~$671M, or ~$3.03 diluted EPS
• Adjusted diluted EPS (TTM): ~$2.95
• Latest quarter (Q3 FY2026, ended June 30, 2026): Revenue ~$1,331M, net loss ~$(133)M, adjusted EPS ~$(0.20)
• FY2026 adjusted EPS guidance: $2.75 to $2.90, reaffirmed August 5, 2026
• Market cap / valuation: ~$8.2B, ~12.7x trailing GAAP EPS, ~13.5x the FY2026 guidance midpoint

The June quarter is structurally a loss for UGI because propane and heating gas volumes collapse in summer, so the trailing twelve-month figures are the honest read. Adjusted EPS strips out mark-to-market swings on commodity and currency derivatives, disposal losses and debt extinguishment charges, and it ran below GAAP EPS over the trailing year rather than above it. Market cap reflects the ~9% move on August 18, 2026 after the reported KKR approach; against the prior close of $35.09 the multiple was closer to 11.6x trailing earnings.

Other names that sit close to UGI: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get UGI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so UGI sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where UGI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

A regulated Pennsylvania gas utility funding a slow AmeriGas propane turnaround, now carrying an unconfirmed private equity approach on top of it.

Whether UGI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is UGI a buy or a sell?, and where the stock could go from here in the UGI stock forecast.

For income investors, whether UGI pays a dividend and how the payout looks is covered in does UGI pay a dividend? And to weigh UGI against a peer, read the full side-by-side comparisons: UGI vs OGS and UGI vs LUV.