One additional item I like about UGI is that they own 44% of Amerigas Partners (APU). Amerigas is a propane distributor. Amerigas is set up as a master limited partnership. The income that UGI derives from APU covers around 80% or more of the dividend. That allows UGI to reinvest a good portion of the income generated by the utilities back into the company, which in turn allows them to grow earnings, cash flow and of course, the dividends.
UGI isn't a fast growing company, but they seem to keep growing the dividend year after year so that is nice, and their business model appears solid, with natural gas distribution being a relatively stable business.
and so much for citi's upgrade of the stock. down again. this company's going nowhere. as i've said before, it's got no earnings mojo. they should sell themselves to the highest bidder. PPL, Exelon, or First Energy would be great fits.