Ultrapar Participações (NYSE:UGP) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Ultrapar Participações (NYSE:UGP) from a hold rating to a buy rating in a report issued on Friday morning.

Other equities analysts have also recently issued research reports about the stock. Hsbc Global Res raised shares of Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a report on Friday, January 17th. HSBC raised Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group raised Ultrapar Participações from a “neutral” rating to a “buy” rating and cut their price target for the company from $4.10 to $3.20 in a report on Friday, January 31st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $3.20.

Ultrapar Participações Stock Performance

Shares of NYSE UGP opened at $2.91 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $3.00 and its two-hundred day moving average price is $2.98. Ultrapar Participações has a 52-week low of $2.53 and a 52-week high of $4.96. The stock has a market capitalization of $3.25 billion, a P/E ratio of 6.33, a P/E/G ratio of 2.39 and a beta of 1.13.

Ultrapar Participações Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.0774 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a yield of 3.8%. Ultrapar Participações’s payout ratio is 36.11%.

Institutional Investors Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UGP. Jane Street Group LLC raised its holdings in Ultrapar Participações by 26.0% during the third quarter. Jane Street Group LLC now owns 48,712 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 10,037 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ultrapar Participações by 194.7% in the third quarter. JPMorgan Chase & Co. now owns 159,142 shares of the oil and gas company’s stock worth $617,000 after buying an additional 105,133 shares during the last quarter. Hennessy Advisors Inc. grew its position in Ultrapar Participações by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company’s stock worth $4,764,000 after buying an additional 115,600 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ultrapar Participações in the fourth quarter worth approximately $374,000. Finally, Blue Trust Inc. grew its position in Ultrapar Participações by 72.4% in the fourth quarter. Blue Trust Inc. now owns 57,100 shares of the oil and gas company’s stock worth $150,000 after buying an additional 23,976 shares during the last quarter. Institutional investors own 3.58% of the company’s stock.

Ultrapar Participações Company Profile

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.