First Eagle Investments Believes UGI Corp. (UGI) Will Benefit From Energy Price Increases

First Eagle Investments, a privately owned asset management company, released its “First Eagle U.S. Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The U.S. Value Fund A Shared returned -12.26% in the second quarter. Broad-based market conditions impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

First Eagle Investments discussed stocks like UGI Corporation (NYSE:UGI) in the second quarter investor letter. Headquartered in King of Prussia, Pennsylvania, UGI Corporation (NYSE:UGI) engages in energy products and related services. On September 19, 2022, UGI Corporation (NYSE:UGI) stock closed at $37.04 per share. One-month return of UGI Corporation (NYSE:UGI) was -8.72% and its shares lost 13.15% of their value over the last 52 weeks. UGI Corporation (NYSE:UGI) has a market capitalization of $7.755 billion.

Here is what First Eagle Investments specifically said about UGI Corporation (NYSE:UGI) in its Q2 2022 investor letter:

“UGI Corporation (NYSE:UGI) is a natural gas, propane and electric power distribution company with operations in the US and Europe. It has distribution scale and a gas utility built on top of the Marcellus shale, which we believe has some of the lowest-cost and longest-duration natural gas reserves in the world. The company has improved on the disappointing results posted earlier in the year but remains challenged by commodity price volatility in Europe. We continue to believe that UGI should ultimately benefit from price increases in the energy it supplies.”

Suwin/Shutterstock.com

UGI Corporation (NYSE:UGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held UGI Corporation (NYSE:UGI) at the end of the second quarter which was 30 in the previous quarter.

We discussed UGI Corporation (NYSE:UGI) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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