Ultrapar Participações (NYSE:UGP) Upgraded at StockNews.com

StockNews.com upgraded shares of Ultrapar Participações (NYSE:UGP) from a hold rating to a buy rating in a research note released on Wednesday.

Several other research analysts have also weighed in on the stock. HSBC raised shares of Ultrapar Participações from a “reduce” rating to a “hold” rating in a research note on Friday, July 19th. The Goldman Sachs Group decreased 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, Hsbc Global Res upgraded shares of Ultrapar Participações from a “strong sell” rating to a “hold” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.20.

Ultrapar Participações Price Performance

Shares of Ultrapar Participações stock opened at $3.54 on Wednesday. Ultrapar Participações has a 1-year low of $3.51 and a 1-year high of $6.34. The firm’s 50-day moving average price is $3.97 and its two-hundred day moving average price is $4.30. The company has a current ratio of 1.55, a quick ratio of 1.16 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 6.81, a P/E/G ratio of 2.57 and a beta of 1.60.

Ultrapar Participações (NYSE:UGP) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $6.21 billion for the quarter. Ultrapar Participações had a return on equity of 20.24% and a net margin of 2.21%. On average, equities analysts predict that Ultrapar Participações will post 0.34 earnings per share for the current fiscal year.

Ultrapar Participações Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.0446 dividend. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, August 19th. Ultrapar Participações’s dividend payout ratio (DPR) is currently 15.38%.

Hedge Funds Weigh In On Ultrapar Participações

A number of hedge funds have recently added to or reduced their stakes in UGP. Acadian Asset Management LLC grew its holdings in shares of Ultrapar Participações by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock worth $14,713,000 after purchasing an additional 293,036 shares in the last quarter. Renaissance Technologies LLC grew its stake in Ultrapar Participações by 57.9% during 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 buying an additional 898,600 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Ultrapar Participações in the 2nd quarter valued at about $5,887,000. Marshall Wace LLP raised its position in shares of Ultrapar Participações by 332.6% in the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after buying an additional 1,099,433 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its holdings in shares of Ultrapar Participações by 27.3% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock worth $1,726,000 after acquiring an additional 94,761 shares during the period. 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.