Ultrapar Participações (NYSE:UGP) Shares Down 2.1% - What's Next?

Shares of Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) dropped 2.1% during mid-day trading on Monday . The company traded as low as $3.10 and last traded at $3.11. Approximately 156,289 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,529,684 shares. The stock had previously closed at $3.17.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on UGP. JPMorgan Chase & Co. raised Ultrapar Participações from a "neutral" rating to an "overweight" rating in a research note on Tuesday, January 7th. 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. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a "neutral" rating to a "buy" rating and decreased their target price for the company from $4.10 to $3.20 in a research report on Friday, January 31st. HSBC upgraded shares of Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Finally, Scotiabank upgraded shares of Ultrapar Participações to a "hold" rating in a report on Friday, December 27th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Ultrapar Participações has a consensus rating of "Moderate Buy" and an average target price of $3.20.

Ultrapar Participações Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The stock's fifty day simple moving average is $2.90 and its two-hundred day simple moving average is $3.19. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 2.39 and a beta of 1.42.

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Ultrapar Participações Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.0774 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a dividend yield of 3.8%. Ultrapar Participações's dividend payout ratio is currently 33.33%.

Hedge Funds Weigh In On Ultrapar Participações

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Ultrapar Participações by 71.8% during the third quarter. BNP Paribas Financial Markets now owns 67,914 shares of the oil and gas company's stock valued at $264,000 after purchasing an additional 28,379 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Ultrapar Participações during the third quarter valued at about $1,595,000. SG Americas Securities LLC acquired a new position in shares of Ultrapar Participações in the fourth quarter worth about $374,000. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 105,133 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Ultrapar Participações by 38.1% during the fourth quarter. QRG Capital Management Inc. now owns 20,609 shares of the oil and gas company's stock valued at $54,000 after acquiring an additional 5,687 shares during the period. 3.58% of the stock is currently owned by institutional investors and hedge funds.

About Ultrapar Participações

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.