Ultrapar Participações S.A. (NYSE:UGP) Sees Large Decline in Short Interest

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 5,000,000 shares, a drop of 36.3% from the January 31st total of 7,850,000 shares. Based on an average daily volume of 1,900,000 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of Ultrapar Participações

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of Ultrapar Participações by 74.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company's stock worth $9,241,000 after acquiring an additional 1,497,300 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ultrapar Participações by 763.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock valued at $3,616,000 after purchasing an additional 1,215,605 shares in the last quarter. Two Sigma Investments LP raised 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 worth $4,351,000 after purchasing an additional 608,951 shares during the period. Millennium Management LLC boosted its position in Ultrapar Participações by 76.4% during the fourth quarter. Millennium Management LLC now owns 1,175,452 shares of the oil and gas company's stock worth $3,091,000 after purchasing an additional 509,037 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Ultrapar Participações by 194.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 734,949 shares of the oil and gas company's stock valued at $1,933,000 after purchasing an additional 485,299 shares during the period. 3.58% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

UGP has been the topic of several research analyst reports. Scotiabank raised shares of Ultrapar Participações to a "hold" rating in a research report on Friday, December 27th. HSBC raised Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Hsbc Global Res upgraded Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 17th. StockNews.com downgraded Ultrapar Participações from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group upgraded Ultrapar Participações from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $4.10 to $3.20 in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ultrapar Participações has an average rating of "Moderate Buy" and a consensus price target of $3.20.

Ultrapar Participações Stock Performance

NYSE UGP traded up $0.01 on Wednesday, reaching $2.84. 1,232,294 shares of the company's stock traded hands, compared to its average volume of 1,265,378. Ultrapar Participações has a fifty-two week low of $2.53 and a fifty-two week high of $5.97. 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 firm has a market cap of $3.16 billion, a price-to-earnings ratio of 6.16, a P/E/G ratio of 2.39 and a beta of 1.52. The stock has a 50 day moving average price of $2.78 and a 200-day moving average price of $3.32.

Ultrapar Participações Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.0774 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Monday, March 10th. Ultrapar Participações's dividend payout ratio is currently 33.33%.

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.