Short Interest in Ultrapar Participações S.A. (NYSE:UGP) Increases By 207.8%

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,080,000 shares, a growth of 207.8% from the March 15th total of 2,950,000 shares. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is currently 5.1 days. Currently, 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Ultrapar Participações Stock Performance

UGP traded up $0.10 on Friday, reaching $2.98. The stock had a trading volume of 3,790,004 shares, compared to its average volume of 1,620,706. The business's 50-day moving average price is $2.95 and its two-hundred day moving average price is $3.07. The company has a market cap of $3.32 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. Ultrapar Participações has a 12-month low of $2.53 and a 12-month high of $5.37. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Ultrapar Participações Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid 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 presently 33.33%.

Hedge Funds Weigh In On Ultrapar Participações

A number of hedge funds have recently bought and sold shares of UGP. Polunin Capital Partners Ltd acquired a new position in shares of Ultrapar Participações during the 1st quarter worth approximately $26,736,000. Renaissance Technologies LLC raised its position in Ultrapar Participações by 74.3% during 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. Marshall Wace LLP lifted its holdings in Ultrapar Participações by 18.7% during 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 purchasing an additional 444,724 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of 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 valued at $4,764,000 after purchasing an additional 115,600 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Ultrapar Participações by 6.5% during the fourth 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. Hedge funds and other 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.