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

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

Analyst Upgrades and Downgrades

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

Ultrapar Participações Stock Down 0.5 %

The firm’s 50 day moving average price is $2.89 and its two-hundred day moving average price is $3.19. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $3.52 billion, a P/E ratio of 6.86, a PEG ratio of 2.39 and a beta of 1.42.

Ultrapar Participações Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.0774 per share. The ex-dividend date was Monday, March 10th. This represents a yield of 3.8%. Ultrapar Participações’s dividend payout ratio (DPR) is presently 33.33%.

Hedge Funds Weigh In On Ultrapar Participações

Several hedge funds have recently modified their holdings of UGP. Mercer Global Advisors Inc. ADV bought a new stake in Ultrapar Participações during the fourth quarter worth about $29,000. Franklin Resources Inc. bought a new stake in shares of Ultrapar Participações during the 4th quarter worth approximately $31,000. Wolverine Trading LLC bought a new stake in shares of Ultrapar Participações during the 4th quarter worth approximately $35,000. Freedom Investment Management Inc. acquired a new stake in shares of Ultrapar Participações in the 3rd quarter valued at approximately $48,000. Finally, Signaturefd LLC grew its stake in shares of Ultrapar Participações by 23.0% in the fourth quarter. Signaturefd LLC now owns 19,705 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 3,688 shares in the last quarter. Institutional investors own 3.58% of the company’s stock.

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.