Ultrapar Participações (NYSE:UGP) Trading 4% Higher – Here’s What Happened

Ultrapar Participações S.A. (NYSE:UGP)’s stock price rose 4% during trading on Tuesday . The stock traded as high as $3.22 and last traded at $3.23. Approximately 647,519 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 1,647,040 shares. The stock had previously closed at $3.10.

Analyst Ratings Changes

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

Ultrapar Participações Stock Performance

The stock’s 50-day simple moving average is $2.89 and its 200-day simple moving average is $3.19. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 6.86, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. 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 business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.0774 per share. This represents a yield of 3.8%. The ex-dividend date of this dividend was Monday, March 10th. Ultrapar Participações’s dividend payout ratio is currently 33.33%.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UGP. Renaissance Technologies LLC increased 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 purchasing an additional 1,497,300 shares during the period. Marshall Wace LLP raised its position in shares of Ultrapar Participações by 18.7% in the 4th quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company’s stock valued at $7,420,000 after buying an additional 444,724 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of Ultrapar Participações by 6.8% in the 4th 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 last quarter. American Century Companies Inc. grew its position in Ultrapar Participações by 6.5% during the 4th quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company’s stock worth $4,671,000 after acquiring an additional 108,213 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Ultrapar Participações by 58.2% during the fourth 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. 3.58% of the stock is 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.