Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $3.10, but opened at $3.19. Ultrapar Participações shares last traded at $3.21, with a volume of 62,804 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on UGP shares. HSBC raised Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Scotiabank upgraded shares of Ultrapar Participações to a "hold" rating in a report on Friday, December 27th. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a "neutral" rating to an "overweight" rating in a research note on Tuesday, January 7th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $4.10 to $3.20 in a research note on Friday, January 31st. Finally, Hsbc Global Res upgraded shares of Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3.20.
Check Out Our Latest Research Report on Ultrapar Participações
Ultrapar Participações Stock Performance
The stock has a market capitalization of $3.07 billion, a P/E ratio of 5.97, a PEG ratio of 2.39 and a beta of 1.10. The stock's 50-day simple moving average is $2.94 and its 200 day simple moving average is $3.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11.
Ultrapar Participações Cuts Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.0774 per share. This represents a dividend yield of 3.8%. The ex-dividend date was Monday, March 10th. Ultrapar Participações's dividend payout ratio is presently 33.33%.
Hedge Funds Weigh In On Ultrapar Participações
A number of large investors have recently made changes to their positions in UGP. Renaissance Technologies LLC grew its holdings in Ultrapar Participações by 74.3% in the 4th quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company's stock valued at $9,241,000 after buying an additional 1,497,300 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Ultrapar Participações by 18.7% in the fourth quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company's stock valued at $7,420,000 after acquiring an additional 444,724 shares in the last quarter. Hennessy Advisors Inc. increased its position in Ultrapar Participações by 6.8% during 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 acquiring an additional 115,600 shares during the period. American Century Companies Inc. raised its stake in Ultrapar Participações by 6.5% in the 4th quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company's stock worth $4,671,000 after purchasing an additional 108,213 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Ultrapar Participações by 58.2% in the 4th quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company's stock valued at $4,351,000 after purchasing an additional 608,951 shares during the period. Institutional investors own 3.58% of the company's stock.
About Ultrapar Participações
(
Get Free Report)
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.
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