APU AmeriGas Partners L.P.

AmeriGas Partners, L.P. Announces Filing of its Annual Report on Form 10-K

AmeriGas Partners, L.P. (NYSE:APU) announced today that it has filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2016 with the United States Securities and Exchange Commission.

A copy of the Annual Report on Form 10-K is available to be viewed and downloaded from the Investor Relations section of AmeriGas's website at http://www.amerigas.com. Interested investors may obtain a hard copy of the Annual Report on Form 10-K, including the Partnership's financial statements, free of charge by writing to Shelly Oates, AmeriGas Propane, Inc., P.O. Box 965, Valley Forge, PA 19482.

About AmeriGas Partners, L.P.

AmeriGas is the nation’s largest retail propane marketer, serving over 1.9 million customers in all 50 states from approximately 1,900 propane distribution locations. UGI Corporation, through subsidiaries, is the sole General Partner and owns 26% of the Partnership and the public owns the remaining 74%.

Comprehensive information about AmeriGas is available on the Internet at http://www.amerigas.com

EN
22/11/2016

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Andrew Bischof
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Morningstar | UGI Offers Best Option for AmeriGas Shareholders

AmeriGas' lack of an economic moat is the product of industry dynamics, low natural gas prices, volume fluctuations due to weather volatility, and the company's need to acquire businesses to offset organic volume declines. We view the outlook for AmeriGas' business negatively. We forecast low natural gas prices in our long-term outlook, which we believe will continue to pressure the company's core business.UGI Corporation recently announced plans to acquire the remaining AmeriGas shares it doesn...

Andrew Bischof
  • Andrew Bischof

UGI Offers Best Option for AmeriGas Shareholders

We are reaffirming our $34 per unit fair value estimate, no moat and negative moat trend ratings for AmeriGas Partners after the partnership reported fiscal 2019 second-quarter adjusted EBITDA of $290.3 million compared with $309.5 million in the same-year ago period. AmeriGas management expects to earn at the low end of its 2019 adjusted EBITDA guidance of $610 million-$650 million. In April, UGI announced a definitive agreement to acquire the remaining shares of AmeriGas it doesn't own. UGI wi...

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