Ultrapar Participações (NYSE:UGP) Shares Gap Down to $4.29

Ultrapar Participações S.A. (NYSE:UGP) gapped down before the market opened on Tuesday . The stock had previously closed at $4.29, but opened at $4.19. Ultrapar Participações shares last traded at $4.15, with a volume of 62,180 shares traded.

Wall Street Analyst Weigh In

UGP has been the subject of a number of research analyst reports. Citigroup upgraded Ultrapar Participações from a “neutral” rating to a “buy” rating in a research note on Friday, June 14th. HSBC upgraded shares of Ultrapar Participações from a “reduce” rating to a “hold” rating in a research report on Friday, July 19th. Hsbc Global Res upgraded Ultrapar Participações from a “strong sell” rating to a “hold” rating in a research report on Friday, July 19th. The Goldman Sachs Group cut their price objective on shares of Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.25.

Ultrapar Participações Price Performance

The company has a fifty day moving average price of $4.16 and a two-hundred day moving average price of $4.73. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 2.94 and a beta of 1.61. The company has a quick ratio of 1.16, a current ratio of 1.55 and a debt-to-equity ratio of 0.77.

Ultrapar Participações (NYSE:UGP) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $6.21 billion during the quarter. Ultrapar Participações had a return on equity of 20.24% and a net margin of 2.21%. On average, equities research analysts expect that Ultrapar Participações S.A. will post 0.34 EPS for the current fiscal year.

Ultrapar Participações Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.0446 per share. This represents a yield of 2.7%. The ex-dividend date was Monday, August 19th. Ultrapar Participações’s dividend payout ratio is presently 16.67%.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently bought and sold shares of UGP. Acadian Asset Management LLC grew its position in shares of Ultrapar Participações by 175.6% in the first quarter. Acadian Asset Management LLC now owns 3,471,048 shares of the oil and gas company’s stock valued at $19,850,000 after purchasing an additional 2,211,696 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Ultrapar Participações during the 2nd quarter valued at $5,887,000. Marshall Wace LLP increased its position in Ultrapar Participações by 332.6% during the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after buying an additional 1,099,433 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after acquiring an additional 898,600 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in shares of Ultrapar Participações in the fourth quarter valued at $1,169,000. 3.58% of the stock is owned by institutional investors and hedge funds.

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.